Consumer rights group Which? said customers need to be aware of their rights as it emerged that people with Jessops gift vouchers face being unable to use them.
Administrators for the camera chain have said the company will also be unable to accept returned goods.
But a spokeswoman for Which? said claims could be made by writing to the administrators with proof of the vouchers, and if items bought on a credit card are worth more than £100 they can be refunded.
The spokeswoman said: "With the increasing number of high street retailers going bust, consumers need to be aware of their rights, particularly regarding warranties and gift vouchers.
"If a store goes into administration it may refuse to accept gift vouchers, though this situation may change.
"If they do refuse and you need to make a claim, write to the administrators with proof of your vouchers. Unfortunately there is no guarantee that you will get the full value back, and a claim could take some time for the administrators to process.
"If you have bought an extended warranty, check the small print carefully. Often it's provided by a third party in which case you shouldn't be affected.
"It is also worth remembering that if you've bought items costing more than £100 on a credit card and the supplier goes bust, you can claim a refund by writing to the credit company with details of your claim."
PricewaterhouseCoopers (PwC) has been appointed to the group, which is Britain's only specialist nationwide camera retailer.
A spokesman said it did not currently have further details about the issue of gift vouchers or how many people might be affected.
