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Okell

You don't need to do any research at all to realise that buying a voucher from company W to buy something from company A is unlikely to be a good idea...

born_again

Jellynailer said:

Aylesbury_Duck said:

Just be aware that a refund will presumably be in wowcher credit, so if you don't have anything you'd want to spend that on, a replacement might be a better bet.

Direstraights5 said:

I was thinking the same to be honest. Thanks again for your help. 

I tried to find the terms and conditions without success for a) Sleepn and found it is merely a brand name (TrustPilot score 1.7) for The Sleep Factory (TP score 1.9); and b) Wowcher with high TP score but from paid for manipulation = seeks reviews immediately after purchase via an email that is actually from TP. I did learn that some 'bargains' could only be bought by purchase of a voucher.

Why some but not all? I suggest that vouchers are a way of distancing Wowcher from suppliers it knows to be dodgy. So, if you can get a replacement I think you will have done better than most one star TP reviewers of Sleepyn.

Returning to Wowcher, I checked out the company on Companies House via a search of ownership. [It is actually quicker to check a company via this method than my searches outlined above). I found a long series of 'Holding companies' included companies called Bidco, Midco, Debtco, and Holdco. This was enough for me to know that Wowcher is not a company I would ever buy from.

How do I know? I am linked in to a group of researchers mainly based at various universities + with international links. The group has devised a report on different categories of corporate enterprises including the category of Holding companies. I reproduce relevant extracts from this guide as my contribution to money saving advice = always check the company before purchase or you could lose the lot!

Extracts: A Holding Company is form of parent company that doesn’t produce or sell any goods or services itself, and has been set up purely to hold shares/stock in its subsidiaries. Aside from potential tax perks, one benefit of this arrangement is to avoid liability: a group’s assets in the hands of a holding company may be protected if a subsidiary goes under, or if the subsidiary is sued.

In the search bar of Companies House enter the name of the company. Once you click on the correct company, you’ll see a series of tabs. Click the ‘people’ one – this will give you the former and current directors of the business:

[Click ‘persons with significant control’ to reveal the dominant shareholder as well as the approximate percentage of shares they hold (described as the ‘nature of control’). More often than not, you’ll find the name of another company, or person]

Copy the name of the individual or company with significant control, and paste it in the search bar; Repeat [ to ] until you can go no further: your search might take you to the Emirate of Abu Dhabi; a Guernsey-based shell company; or some bloke in Essex.

Once you start seeing ridiculous names like Bidco, Midco and Topco; Bidco 2, Topco 2 etc., you haven’t gone mad — you’ve merely entered the murky world of private equity firms.

The same process can lead to other categories e.g. Shell and or single owner companies.  All are bad news for consumers as I found out when I researched my own mattress problem then the bedding problems posted by other forumites.

p.s. due to personal circumstances, I cannot respond to any comments on this post but anyone who wants more information, please PM me and I will reply when I am able to.

in what way?

Wowcher are just a 3rd party who provide a platform for retailers to provide special offers. Other than selling you a Wowcher to redeem at the retailer, that is all they do.
They are just like all the other voucher sites, selling packages.

The fact that Wowcher will offer a credit when a issue is not their fault. Shows they are one of the better companies out there.

Zinger549

born_again said:

Jellynailer said:

Aylesbury_Duck said:

Just be aware that a refund will presumably be in wowcher credit, so if you don't have anything you'd want to spend that on, a replacement might be a better bet.

Direstraights5 said:

I was thinking the same to be honest. Thanks again for your help. 

I tried to find the terms and conditions without success for a) Sleepn and found it is merely a brand name (TrustPilot score 1.7) for The Sleep Factory (TP score 1.9); and b) Wowcher with high TP score but from paid for manipulation = seeks reviews immediately after purchase via an email that is actually from TP. I did learn that some 'bargains' could only be bought by purchase of a voucher.

Why some but not all? I suggest that vouchers are a way of distancing Wowcher from suppliers it knows to be dodgy. So, if you can get a replacement I think you will have done better than most one star TP reviewers of Sleepyn.

Returning to Wowcher, I checked out the company on Companies House via a search of ownership. [It is actually quicker to check a company via this method than my searches outlined above). I found a long series of 'Holding companies' included companies called Bidco, Midco, Debtco, and Holdco. This was enough for me to know that Wowcher is not a company I would ever buy from.

How do I know? I am linked in to a group of researchers mainly based at various universities + with international links. The group has devised a report on different categories of corporate enterprises including the category of Holding companies. I reproduce relevant extracts from this guide as my contribution to money saving advice = always check the company before purchase or you could lose the lot!

Extracts: A Holding Company is form of parent company that doesn’t produce or sell any goods or services itself, and has been set up purely to hold shares/stock in its subsidiaries. Aside from potential tax perks, one benefit of this arrangement is to avoid liability: a group’s assets in the hands of a holding company may be protected if a subsidiary goes under, or if the subsidiary is sued.

In the search bar of Companies House enter the name of the company. Once you click on the correct company, you’ll see a series of tabs. Click the ‘people’ one – this will give you the former and current directors of the business:

[Click ‘persons with significant control’ to reveal the dominant shareholder as well as the approximate percentage of shares they hold (described as the ‘nature of control’). More often than not, you’ll find the name of another company, or person]

Copy the name of the individual or company with significant control, and paste it in the search bar; Repeat [ to ] until you can go no further: your search might take you to the Emirate of Abu Dhabi; a Guernsey-based shell company; or some bloke in Essex.

Once you start seeing ridiculous names like Bidco, Midco and Topco; Bidco 2, Topco 2 etc., you haven’t gone mad — you’ve merely entered the murky world of private equity firms.

The same process can lead to other categories e.g. Shell and or single owner companies.  All are bad news for consumers as I found out when I researched my own mattress problem then the bedding problems posted by other forumites.

p.s. due to personal circumstances, I cannot respond to any comments on this post but anyone who wants more information, please PM me and I will reply when I am able to.

in what way?

Wowcher are just a 3rd party who provide a platform for retailers to provide special offers. Other than selling you a Wowcher to redeem at the retailer, that is all they do.
They are just like all the other voucher sites, selling packages.

The fact that Wowcher will offer a credit when a issue is not their fault. Shows they are one of the better companies out there.

That user seems to have a some odd issues with mattresses. Their posts don't really help the OP. 

Jellynailer

Okell said:

You don't need to do any research at all to realise that buying a voucher from company W to buy something from company A is unlikely to be a good idea...

I do so agree and I trust that I have demonstrated why it is not a good idea.  It is my understanding that it is Sleepyn and not Wowcher that is offering an exchange.  

My focus has been on a single product (= beds/mattresses) as good practice in the task of 'nailing jelly to the ceiling'. These are relatively high value but essential products in a sector where bargain offers abound; + lack of transparency about additional charges; denial of rights of return, refund or even exchange.  It is a high risk sector for consumers who can lose the cost of their entire purchase or more. It is a sector that is attractive to private equity, shell companies and other 'predators'.   I make no apology for trying to help consumers save their money.

Now I really am off post!