“Going out of Business” and Liquidation Sales
Read, Shop, Compare and Question to get the best buy.
To many consumers, "going-out- of-business" and “special liquidation” sales indicate big
savings and limited-time offers. But, the Better Business Bureau warns that in some cases,
such sales may not offer the best buys in town.
There are instances when a store must close its doors and liquidate any remaining stock
quickly. According to the BBB, these sales should be held only if their stated or implied reason
is a fact. Sales should be limited to a stated period of time and offer only merchandise that is
affected by the emergency.
Bankruptcy, liquidation and going-out-of-business sales usually provide consumers with
opportunities for big savings. However, un-scrupulous businesses may run "Final closing"
sales regularly, ringing up big sales because the stores imply a sense of urgency, and
consumers believe they are purchasing the merchandise at greatly reduced prices. Instead of
closing down, a store may reopen under a new name in the same or a new location.
In the case of some liquidation sales the merchandise for sale may be prior purchased and
returned defective product. The returned merchandise is repaired and provided to liquidation
companies for retail re-sale. Consumers should always carefully read the fine print on any
advertising material and ask questions before making a purchase.
While big savings may be found at a legitimate "everything must go" sale, such savings
shouldn't automatically be assumed. Consumers should compare price and quality, and read
warranties carefully to find out if the item can be taken to a service center or other facility,
since the store is closing or the people offering the special limited time liquidation sale may not
be around if you require service on your merchandise.
By comparing prices and understanding the truthful meaning of advertising promotions,
consumers can avoid misleading come-ons and take advantage of stores offering truly good