We all have been given gift vouchers at some point in time from a relative who does not know us well enough to buy a present but is a close enough to remember the spelling of your name. In most cases, getting gift vouchers is a good thing – if the quantity can buy you more than a belt from your prefered retail outlet but what happens when those vouchers are deemed worthless?
Following on from HMVgate which saw HMV u-turn their decision to refuse vouchers just after Christmas, news is floating out of the City – London’s Financial City to you and me – that high street fashion retailer Republic vouchers are now worthless and cannot be redeemed.
Republic was put into administration in February 2013 because of poor sales running up to Christmas, and was bought the same month by Sports Direct – that place your mum buys socks from. As it currently stands, there are over 70,000 customers with vouchers ranging from £5 up to £1,000s which means there are going to be a few angry Tweets floating around when they decide their wardrobes needs something new. The total value of the now useless vouchers is said to be over £1million.
Could this mean the end of gift vouchers? The view from the new owners’ administrators is simple – it is “not the responsibility” of owners Sports Direct to honour the gift cards. Where this leaves 70,000 customers with pretty bits of paper is anyones guess but the message this sends out is clear, avoid giving vouchers as presents. Unless they are for Argos.
More to follow…