ATTENTION: The BBB advises merchants to read the BBB Code of Advertising before having a going out of business sale!
Who doesn’t like a good deal? Knowing that you saved a lot of money on a great product can make your day, but your BBB would like to remind everyone that not all going out of business deals are as good as one might think. What you need to do before making a purchase is ask yourself these questions:
And the best way to answer it is by doing some comparison shopping first. Do your research on the model that you have in mind and see what other retailers are selling it for.
Sometimes, the merchants will sell their items to third party vendors called liquidators. Liquidators by the entire merchandise at a discount price and then add a fee on top of that before reselling everything to customers.
This means that sometimes the price ends up being higher than it was even before the going out of business sale started. Also, liquidation companies rarely honor gift certificates, coupons or store credits and you may also want to check for a sign that says “no refunds or returns.”
If you decide to go through with the transaction, make sure the instructions and warranty cards are included and don’t forget to carefully inspect every item.
A company can advertise a going out of business sale only if they are really going out of business. If you notice a store in your area that’s been advertising a going out of business sale for a really long time (some even do it for years), this is a red flag.
You can contact your state Attorney General’s office and your BBB to report fraudulent going out of business sales.
For more information you can trust, visit bbb.org/Evansville!