Central Illinois -On February 17, 2014, American TV & Appliance announced that it would be going out of business as of April 30. Beginning Thursday, American TV & Appliance will begin to hold a going-out-of-business-sale to liquidate inventory.
Thursday through Saturday, the store will be open from 9 am to 9 pm, and 10 am to 7 pm on Sunday. After this weekend, it will resume regular hours until it closes its doors.
In a statement, American TV & Appliance says:
- It will honor gift cards during the going-out-of-business sale or provide refunds to customers who do not wish to redeem them.
- All extended-warranty policies that customers purchased are valid and insured through a third-party insurance company.
- Customers who have open orders waiting for delivery will either receive delivery of their goods or a refund of their deposit.
- All products in the service center will be repaired or returned to the customer prior to closing.
- American is recommending, if you have any items still covered by the manufacturer's warranty but you no longer have the original receipt, you should come into the store before it closes to get a duplicate copy of the receipt. The third party extended warranty company will require a copy of the original receipt the items were purchased on.
Consumers are always on the lookout for good deals and a "Closing Sale" or "Liquidation Sale" sounds like a good place to get rock-bottom prices. Your BBB is warning bargain hunters to be on the alert, because liquidation sales are often handled by third parties, consumers could actually be paying an inflated price instead of getting a discount.
Here is some general advice for any liquidation sale:
- Shop around: Make sure it's a bargain, just because it is a "Closing Sale" doesn't mean it is the lowest price available for that item.
- Use your gift cards as soon as possible: BBB recommends that consumers holding gift cards use them as soon as possible to avoid getting stuck with a worthless piece of plastic.
- Use a credit card, if possible: Unlike personal checks or cash, credit cards include built-in protection if the liquidator does not deliver on promised goods.
- Ask and understand the warranties: These are typically "As is" sales with no return policy but warranties are often serviced by a manufacturer or third party. This means the warranty may still apply, even if the retailer goes out of business.
- Check the item you're buying thoroughly: Carefully inspect merchandise, and understand you are typically not able to return items after purchase, regardless of reason.
- Don't expect top notch customer service: Floor staff may be limited.
- Don't be afraid to haggle: It never hurts to ask when something is being sold "As is"
Finally, consumers should keep in mind that all liquidation sales are final and that they don't have many options if they are not satisfied or have over paid for a purchase.
For 100 years, the Better Business Bureau has been helping consumers find businesses, brands and charities they can trust. In 2012, consumers turned to BBB more than 100 million times for Business Reviews on more than 4 million companies and Charity Reports on 11,000 charities, all available for free at www.bbb.org. The Council of Better Business Bureaus is the umbrella organization for 114 local, independent BBB's across the United States and Canada, as well as home to its national programs on dispute resolution and industry self-regulation.
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