MSE News: Blow to Peacocks shoppers as gift cards no longer accepted

x_Bunny_x

powerful_Rogue wrote: »

Nice to see MSE on the ball! This has been running for a few days now in the Praise, Vent and Warning section of the site.

I read this on. Im tryying the think. It was on the bbc red button, in the news/ business/news section!

Last week too!

The not taking returns thing was a notice on the window, when i went to the shop on monday!

terra_ferma wrote: »

I beats me why people buy gift cards. You are basically loaning the company money, and in return you get a piece of plastic, with terms and conditions on how you can spend YOUR money, often an expiry date, and the risk of losing your money altogether.

its so the person doesnt just take the £10 (or whatever you give them) for their birthday, shove it in their purse/wallet , to be spent on bills. If its a gift card to a shop you know they like, they can only spend it in that shop

icehockeyjoe

The sad thing is the people that will get it in the neck about not accepting returns will be the poor workers in the store rather than management, the same poor workers who have no idea how much longer they will have a job for

chattychappy

magpiecottage wrote: »

I note that the OFT has said that claims under Section 75 of the Consumer Credit Act 1974 in respect of gift cards is a "grey area".

However a dispute with the card provider would fall under the jurisdiction of the Financial Ombudsman Service under the Consumer Credit Act 2006.

The involvement of two Acts with the same name is confusing but what it means is the 2006 Act allows the FOS to decide on a dispute involving the 1974 Act.

No, I don't think it is confusing - but using "jurisdiction" in this way is.

The OFT is the regulator (for now). The FOS provides a dispute resolution service for consumers.

Just as with other certain other services, the FSA is the regulator (for now) and the same FOS provides a dispute resolution service.

So the OFT/FSA are entitled to comment on the areas they regulate.

terra_ferma

x_Bunny_x wrote: »

its so the person doesnt just take the £10 (or whatever you give them) for their birthday, shove it in their purse/wallet , to be spent on bills. If its a gift card to a shop you know they like, they can only spend it in that shop

I know people mean well, I'm not criticising the gesture (who has never bought a present that was never used, for example?)
It's just that company make a lot of money from cards that are not used (lost, expired etc). If they gave at least a little discount for that, or at list get rid of expiry dates (it's your money after all) it would make it fairer.

alex21

x_Bunny_x wrote: »

I read this on. Im tryying the think. It was on the bbc red button, in the news/ business/news section!

Last week too!

The not taking returns thing was a notice on the window, when i went to the shop on monday!

Shutters were down last Monday on our local Peacocks and it has been closed since.

DJDavey

alex21 wrote: »

x_Bunny_x wrote: »

I read this on. Im tryying the think. It was on the bbc red button, in the news/ business/news section!

Last week too!

The not taking returns thing was a notice on the window, when i went to the shop on monday!

Shutters were down last Monday on our local Peacocks and it has been closed since.

Where is your Local Peacocks? as All of them are still OPEN:think:

corbyboy

im-lost wrote: »

Ever thought that only a few companies have the resources and contacts to deal with companies with such massive debts?

Its not like old bob the accountant on the corner can handle it :rotfl:

These few companies are called in as they are the best at what they do, believe it or not, and they earn every penny of their commission.

I have no doubt that they are highly skilled professionals who do a difficult job. They just seem to get paid an obscene amount of money for a few months work.

For example, the administrators of Woolworths, Deloitte, charged over £9 million for their services. And, of course, they got their cut before anybody else.
And for that they even managed to mess up by not consulting with the unions over redundancies. That has just recently cost the Government £67 million.

alex21

DJDavey wrote: »

alex21 wrote: »

Where is your Local Peacocks? as All of them are still OPEN:think:

Not in Bangor, Northern Ireland (Flagship Centre) sorry to say and we lost HMV at the weekend.:(

katyboo123

terra_ferma wrote: »

I beats me why people buy gift cards. You are basically loaning the company money, and in return you get a piece of plastic, with terms and conditions on how you can spend YOUR money, often an expiry date, and the risk of losing your money altogether.

I agree.

I just think at least people who have gift cards stand to lose less than a couple hundred quid MAX (which I know is relative and a big deal for a lot of people...but bear with me!)... People who work at Peacocks probably stand to lose thousands in annual salaries. Poor souls, I feel heart sorry for anyone being made redundant as usually the media knows before you and it's unimaginable how hard it is on the other side of redundancy.

thinking of Peacocks staff, hoping they will be ok. And inadvertently hoping some of the gift card holders will be ok if and when a buyer is found X

DJDavey

katyboo123 wrote: »

I agree.

I just think at least people who have gift cards stand to lose less than a couple hundred quid MAX (which I know is relative and a big deal for a lot of people...but bear with me!)... People who work at Peacocks probably stand to lose thousands in annual salaries. Poor souls, I feel heart sorry for anyone being made redundant as usually the media knows before you and it's unimaginable how hard it is on the other side of redundancy.

thinking of Peacocks staff, hoping they will be ok. And inadvertently hoping some of the gift card holders will be ok if and when a buyer is found X

Thank you :T, we should know more next week:)