United we stand: Zavvi gift vouchers/cards

sapphire6

Aren't Zenseeker and Flickering Ember just too good to be true?

Get with it you two - it's not the money some us are concerned about, - it's the whole principle of the way the matter has been handled by Ernst & Young.

They have done for the future of Gift Vouchers and Gift Cards, what Robert Peston did for the Banking Industry.
If I am right they are becoming the Gordon Gecko of the Administration World. While all these kids can do nothing with their vouchers, even when the stock is reduced right down,- no doubt Ernst & Young's fees will be much higher up the list than the poor gift voucher holders.

It was suggested the amount of gift vouchers was excessive,- a figure has since been mentioned of £4 million.
And before you jump to your keyboard - I know Virgin no longer own Zavvi, -but this is something that was originally built from ads on the back pages of NME and the like.
Personally, I am surprised that Richard Branson hasn't stepped in the cover the vouchers in one form or another, if only to show his disappointment at the final loss of his first venture. Even if the vouchers could be used as part-payment through a different store.

This is another major lost opportunity by many High Street Stores and Supermarkets. Even if to encourage consumers to spend 50% in cash and accept the other 50% in vouchers.

Course, Ernst & Young wouldn't think of that.
If they drew in 50% in vouchers and got 50% in cash at the same time, that would be no less than they would receive by the time the stock was reduced so low to clear, that they get even less cash.

At the end of this, it will not be Zavvi that comes out with a bad name.
It will be Ernst & Young.

Essenchill

Has anyone who has sent their vouchers back to the administrators received anything back - acknowledgement, 'receipt', refund...?

johnbfan

I sent ours back and had no acknowledgement of any kind, so am assuming they arrived at some stage.

johnbfan

zenseeker wrote: »

The proceeds of which go straight into the hands of the administrators, and thusly distributed among the more important creditors such as banks and suppliers. The admins have a duty to try and make sure that no other businesses go under as a result of Zavvi's collapse, and from an economic point of view, that is far more important than refunding gift vouchers.

As Zenseeker quotes above I think the administrator take their fees first then distributes it amongst creditors such as banks then suppliers. They are not going to wait till the job is done for their fees. They will make sure they extort their fee first.

magyar

johnbfan wrote: »

As Zenseeker quotes above I think the administrator take their fees first then distributes it amongst creditors such as banks then suppliers. They are not going to wait till the job is done for their fees. They will make sure they extort their fee first.

By which you mean 'charge their fee which would by law have to be reflective of fair market price'?

Would you take on a job if you knew you weren't going to get paid?

Helix

sapphire6 wrote: »

Personally, I am surprised that Richard Branson hasn't stepped in the cover the vouchers in one form or another, if only to show his disappointment at the final loss of his first venture. Even if the vouchers could be used as part-payment through a different store.

Hes not stupid thats why he sold Virgin Megastores he could see it was going downhill and didn't want a Virgin company going into adminstration. Why would he want to remind people that really Zavvi is just Virgin Megastores with a new name by honouring the vouchers. Theres not really anything he would gain from houring them even as a PR exercise so it would be a waste of money for him.

zenseeker

Helix wrote: »

Why would he want to remind people that really Zavvi is just Virgin Megastores with a new name

Because they're not :rolleyes:

Zavvi was formed by Virgin Megastores being sold, they are nothing to do with Branson or the Virgin group anymore.

keith99_2

sapphire6 wrote: »

Aren't Zenseeker and Flickering Ember just too good to be true?

Get with it you two - it's not the money some us are concerned about, - it's the whole principle of the way the matter has been handled by Ernst & Young.

Dont be surprised, its the norm for zenseeker.
what gets me is, that those who dont have anything tied up in vouchers think its a case of grin and bear it, but why shouldnt you protest and draw attention to this injustice. Its your right, as long as its within the law.
I feel for the person with £300 worth.
The goods were sitting on the shelves, the company had the money, so why should they say you cant use them?
Some of the preachers here are forgetting, those with vouchers arent after a refund, they quite rightly want to use the vouchers for products sitting there on shelves, why is that so wrong?

northerngeezer

Am I hoping for too much by still holding onto my vouchers ....in the hope that there may be a change in policy.

Perhaps I should just post them and put it down as a bad experience.

(not expecting any refund as all vouchers collected over time before November 2008)

Helix

zenseeker wrote: »

Because they're not :rolleyes:

Zavvi was formed by Virgin Megastores being sold, they are nothing to do with Branson or the Virgin group anymore.

I know in that sense it isn't but. All that really changed to the actual shops was the Name. What they stock and the prices stayed the same. They even kept the Virgin Media stores inside. I think many people will still associate them with Virgin Megastores.