HMV Administration [Gift cards NOW ACCEPTED!]

railbuff

pmduk wrote: »

The advice has been given countless times on here, but it bears repeating. Don't buy gift vouchers and if you receive them, spend them immediately or risk losing them

i save up with High Street Vouchers/Love2shop vouchers so i can get all xmas gifts ( these can be spent at 100s of retailers)

System

railbuff wrote: »

i save up with High Street Vouchers/Love2shop vouchers so i can get all xmas gifts ( these can be spent at 100s of retailers)

Yes but has already been pointed out if the company that runs High Street Vouchers/Love2shop goes bust you are still left with worthless vouchers!

Wicked_witch

It's really time that rules were changed so gift cards couldn't be refused, since the store already has the money. It would be theft in any other situation. The employees and customers should be first in line for their money or goods in this situation. And there should be some sort of penalty for businesses that continue to sell gift cards, warranties etc while knowing that they will be going out of business and will not be honouring them. A prison sentence for the company directors, equal to that handed out to someone stealing an equivalent amount of money from a bank would seem to be appropriate.

I know legislation is unlikely to change (esp the prison part, lol!) but I needed a good rant and this is the right forum for it!

And seriously, if companies are going to continue to fail at this rate, some protection does need to be put in place even if it is just a guaranteed percentage of the voucher value for all customers.

SevenOfNine

Pity they didn't reach that decision pre Xmas - before flogging a load of gift cards!

Hopefully, many of those who've got one can see if the purchaser paid with a credit card - in which case, no problem.

rossireps

pmduk wrote: »

Don't bother, if they are, there's no guarantee orders would be sent out and you'd risk losing more money. I don't think HMV ever accepted their own vouchers online.

i wont be i just wondered

railbuff

goater78 wrote: »

Yes but has already been pointed out if the company that runs High Street Vouchers/Love2shop goes bust you are still left with worthless vouchers!

but the money you send to Park Group for the vouchers is protected, so you will get the money back. This was set up between them, their banks and the government after the farepak fiasco

railbuff

Wicked_witch wrote: »

It's really time that rules were changed so gift cards couldn't be refused, since the store already has the money.

not 100% true.

take Comet as an example. you paid Comet Group Ltd your money for the gift cards. Comet Group Ltd went into administration. the first think the administrator does is liquidate Comet Group Ltd with companies house and set up Comet Group ( in administration) Ltd which is a different company/entity. as you have not paid Comet Group ( in administration) Ltd anything they are under no obligation to honour gift card/vouchers or outstanding orders made to Comet Group Ltd

Wicked_witch

I understand your point, but then that is the whole problem with current legislation- no one is obliged to accept responsibility as the company can say 'oh well, we gave all the money to the administrators' and the administrators can say 'oh well, we're not comet/hmv so you don't have any contract with us!' This is what needs to change, not just for gift cards but to ensure that employees get a fair amount of redundancy money instead of the bare minimum which they have to beg the government- and by extension, the already out of pocket customers- for.

railbuff

it is the insolvency act that allows administrators to do this as its a way to secure the companies current assets (if any) while they look at a way to secure the business or sell it off

pmduk

There is nothing to stop Government legislating that funds paid for gift vouchers should be ring-fenced and held in trust until the vouchers are redeemed. Companies wouldn't like it, they'd no longer be able to use the funds as a free source of venture capital.

Some companies might stop offering them, but hardly a great loss, it'd save consumers losing a fortune.

Actually the one thing stopping this Government is it's indifference to consumer rights.