Bankrupt!: Sharper Image Not Taking Gift Cards

Discussion in 'Et Cetera, Et Cetera' started by Principessa, Mar 4, 2008.

  1. Principessa

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    Bankrupt Sharper Image No Longer Accepts Gift Cards

    Consumerist | February 22, 2008 02:41 PM




    Despite issuing a press release claiming that they will "continue to conduct business as usual," The Shaper Image has suspended redemption of all gift certificates after filing for bankruptcy late on Tuesday.

    After receiving several complaints that gift certificates were not being honored by the store the Consumerist was able to confirm via email with the Sharper Image's corporate sales staff that the retailer is no longer selling or accepting the cards.

    Reader Javier is stuck with a $279 store credit from a defective Roomba: I called customer service and they sent me a Merchandise Certificate for $279 dollars. They couldn't send me a new Roomba because they don't consider it the same product since its a new version. During the holidays, no store in the Chicago area had the Roomba in stock, so I was left out in the cold again for 2 more months. Now, I finally go to the store and hand them my certificate and I'm told that due to Chapter 11, SI is not accepting Merchandise Certificates or Gift Cards from anyone.


    Not worth the plastic they're printed on
    Sharper Image bankruptcy means consumers may find gift cards worthless
     
  2. dong20

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    I've always disliked gift certificates, this potentiality isn't the only reason for that, but it's one of them. Perhaps, if the company is sold on the buyer may honour them, at least in part, though I doubt it.
     
  3. TurkeyWithaSunburn

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    This reeks truely check how many giftcards you have right now and go spend them all. The stores promote gift cards like "cash".

    Old but true, cash is king.
     
  4. Not_Punny

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    Holy Crap!

    I hope I'm not stuck with two pairs of slippers that were the wrong size! :eek:
     
  5. B_Demention

    B_Demention New Member

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    What a bullshit company Sharper Image is. It's just As Seen on TV under a classier guise, allowing them to jack up the prices on their crappy products that break within a week. You're lucky if the product even does what it's advertised to do within that week. Word to the wise - if it plugs into an outlet, get it at Best Buy or Circuit City.
     
  6. Hockeytiger

    Hockeytiger Active Member

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    I find this pretty offensive. How could management allow the situation get to the point where they can't even honor those gift cards? Based on that, those executives ought learn how to work a deep fryer and how to say, "Would you like to have fries with that?" convincingly.

    I also don't like gift cards. Many companies deduct a portion of the unused portion every month if it goes unused. (I do understand not wanting such liabilities sitting on their books for years upon years, but I should be able to let it sit in my wallet for, at least, a year or so before they start reducing its value.) Others severly restrict its use, like not allowing you to use it online, or if they do, they won't let you use it to cover shipping or taxes. Be very wary before you buy gift cards.

    If I were the man from the article, and I am certainly no tax expert in any way, but I might have tried to declare it a bad debt and thus salvage something from it.
     
  7. SteveHd

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    It was a fun store to browse around but I rarely bought anything from them. If they go "tits toward the sky" I won't miss them.
     
  8. disconap1973

    disconap1973 New Member

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    I think that it is horrible that the gift cards are considered "loans from customers." But I guess that will teach all of us a lesson.
     
  9. scottish.47

    scottish.47 New Member

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    If Sharper Image goes belly up, who cares? I've been in the store we have locally and can find similar items elsewhere for less. It is just another weeding out of the herd, and it will not impact me the least little bit. As for gift cards, I find them to be a nice present.
     
  10. visualalert

    visualalert New Member

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    Agreed - a great place to browse interesting gadgets but I always wondered how they could pay the rent. Their locations are generally in pricey rental markets (malls) but I almost never saw anyone actually buying something at the register. Just browsing.

    I feel the same way about Radio Shack stores. I hit the one near my house once or twice a year for some cheap connector or something. How do they keep going? Cameras, TVs, audio equipment, etc. is always cheaper elsewhere with better selection. It's the last place I'd go to look for electronics other than parts or cables, which are available everywhere.
     
  11. mrpond

    mrpond New Member

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  12. scottish.47

    scottish.47 New Member

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    mrpond summed it up succinctly.
     
  13. B_Think_Kink

    B_Think_Kink New Member

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    Who cares? So some people will be out of work and need to find a new job.. that's life.
     
  14. transformer_99

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    Anyone know of another place that has the massage chairs ? I guess no more free massages for me ? What a shame, 20 minutes in one of those chairs and I was good for another two weeks without minor back aches. It got to the point where the wait was too long anyway.
     
  15. Northland

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    Just as well. Except for their alarm clock/sound soother I never had use for the majority of their products, most of which are wildly overpriced. Still, it would be sad to see them go completely under as they are an enjoyable browse through store.
     
  16. B_ScaredLittleBoy

    B_ScaredLittleBoy New Member

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    By definition, loans are to be paid back.

    Or is that not how it works in America.

    This is in reference to the "gift cards are loans from customers" comment.
     
  17. transformer_99

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    They'll probably wind up going back to what they started off as, an internet based retailer. Mall space has to be outrageous rent. They would've been smarter to have bought property and developed their stores in less pricey rent districts. But let's face it, their inventory is full of things most wouldn't use on a daily basis. Anyone I went to, the sales force simply wasn't aggressive enough to chase out people that were simply there to browse the free samples. A friend I know wound up buying the higher end leather massage chair, but then again, he's that way. About a month ago, he was forking out for the Apple Quad core work station, Power Mac I believe. Strange, the first 2 he bought were defective and were returned, one simply didn't power up out of the box, the other had a bad video card and one of the connections to the monitor didn't work.
     
  18. SpeedoGuy

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    I guess customers just didn't buy enough nose hair trimmers.
     
  19. midlifebear

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    Yeah, COSTCO. :smile: As for Sharper Image, I never bought anything from them. They were just a convenient place to waste 10 or 15 minutes before the movie started at the cineplex in the mall.
     
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