Its attractive to fall for deal trap by seeing big banners of 50%, 75% off marked down prices and “going out of business” signs. The news shows that they may not be best deals – Here is the post with first finding closing stores, second store closing deals, really bargain prices ? and third – what if “Rebates Processing” store closes?
Finding “Going Out Of businesses” stores or services
Now that recession from December 2007 is official no wonder so many websites are born updating daily what businesses are closing doors. WSJ covered a list of all websites to check the store closings.
> Timelydemise – This site is highly recommended. The latest post of December 2 2008 is that “Tweeter” closed all its shops effective this morning. This site posts all updates of retail closings.
“Going Out Of businesses” deals, Really bargain prices
Now that LNT (Linen N Things) is going out of business, We paid a visit to nearby store only to find bargain price deals seems not that good. ABC news channel went undercover at LNT and found these interesting facts.
ABC’s Good Morning America went undercover at Linens ‘n Things and found just pulling back the price tags reveals an older, less expensive price.
Take a Calphalon sauce pan they found, the tag says $124.99, but when they peal back that tag it says $109.99 on a sticker underneath.
Several clerks at the store say the liquidators raise rates to the regular retail price, then lower them with discounts.
An example is a curtain panel found at Linens ‘n Things. The liquidators price is $47.99, but back when Linens ‘n Things had the same curtain on clearance, it cost $19.99.
Stephen Baker is a Retail Industry Analyst with the NPD group. He says a liquidation sale may not be what you think.
“Contrary to popular belief, liquidation sales aren’t a great deal for the consumer. The liquidator’s goal is to make money for himself,” said Baker.
Be careful and do a price comparison of same item at other store and be advised that all sales are final. Items cannot be returned.
Rebate Processing store files bankruptcy
What to do if major rebate processing company closes its doors ? Slickdeals blog covered this here about Continental Promotion Group, Inc (CPG) which went out of business on November 14 2008. The post gives valuable advise for all the shoppers who bought items from the stores that use CPG as their rebate processor.
In Summary – If you can – 1) Avoid “Out of business” stores, 2) Research the prices thoroughly before you buy, 2) Keep informed regularly through the list of sites of what stores are closing.