Quote:
Originally Posted by MortonH
I understand that companies can cease trading and people get screwed, but I don't remember such a callous example as this where "they" (Anchorage Capital, DSE or whoever) raked in lots of cash at Christmas for vouchers then announced those vouchers were no longer valid but continued trading as if nothing had happened.
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When Borders went under they would only honor your gift card if you spent an equal amount. In that situation the company was still fully owned by a private equity firm (well private equity fund to be accurate). In the case of Dick Smith I think Anchorage sold out quite some time ago didn't they?
These things happen after Christmas because retail's strongest period by far is Christmas. If the company is in challenging circumstances a poor Christmas will put it under but a good one could save it.