The impending closure of Value City Furniture stores across 17 states is a significant development that has left many customers anxious and uncertain. Recently, the company had already shuttered several locations in December, but as of January 9, it announced that it would be starting liquidation sales for all remaining stores, including the one located on Kemper Road in Springdale, Hamilton County. For more details, you can refer to their official announcement here: PR Newswire.
So, what options do consumers have when faced with such closures? When a company goes out of business or files for bankruptcy, it can leave customers who have already made purchases feeling frustrated and abandoned, as they might not receive the goods or services they paid for. However, there are steps that affected customers can take to potentially recover their funds.
Take, for instance, the experience of Jen and Rick Housner, who found themselves in a predicament after their furniture order was unexpectedly canceled without a refund being offered by the store. "We started to kind of wonder where the furniture was," Jen remarked, reflecting the couple's confusion and disappointment. Rick added, "At that point, I was like, we are not seeing this money back," highlighting the grim reality many face in such situations.
Legal expert Danny Karon, founder of 'Your Lovable Lawyer,' sheds light on the options available to customers in these scenarios, particularly when a company opts for Chapter 11 bankruptcy, which is primarily focused on reorganization rather than liquidation. "This is a Chapter 11 bankruptcy for a reorganization ... and that means you have some possible remedies available," Karon explained, emphasizing that customers are not entirely without recourse.
Steps to Retrieve Your Funds
If you find yourself in a similar situation, here are some actionable steps to consider:
1. Contact the Company: The first move should be to reach out to the company directly. Inquire if there are any items currently in stock that could replace your order. "Maybe there’s something they needn’t order, but they have on the floor. They can give it to you right off the floor. That could solve the problem," Karon suggested.
File a Claim with Bankruptcy Court: If contacting the company does not yield results, your next step should be to file a claim with the bankruptcy court. Karon advises navigating to the bankruptcy court’s website to submit your claim promptly. "You’re what’s called an unsecured creditor," he noted, indicating that it’s important to understand your status in the process. However, he cautions that this method might not guarantee full reimbursement, and the process can be lengthy. "But the only certainty is in doing nothing. You’ll get for sure nothing back if you don’t file a claim," he stated firmly.
Engage Your Credit Card Provider: Lastly, customers should consider contacting their credit card companies. "Ask for a charge back to dispute the charge because you didn’t get your product, and you didn’t get your money back," Karon advised. This can sometimes lead to a quicker resolution.
Company Response
In response to inquiries, WCPO reached out to American Signature, another brand under the same umbrella, but was simply directed to the "What’s Next" page on the Value City Furniture website. According to the site, the company claims, "We are doing our best to fulfill customer orders for products that are currently in stock." They also mention that if they cannot fulfill an order for which a deposit was made, customers may have the opportunity to file a claim.
Customers can find information about filing a claim on American Signature’s Chapter 11 case website: American Signature Claims.
The Housners expressed their concerns regarding the lengthy nature of this process, fearing that it might take months or even years to achieve resolution. "To look at that and say we’ve lost almost $2,000 is definitely a struggle," lamented Jen Housner, highlighting the emotional and financial burden such situations can impose on consumers.
It’s crucial for customers to recognize the unpredictability of store closures. Therefore, keeping receipts and other essential documents can be a lifesaver in times of uncertainty.
What are your thoughts on this situation? Do you feel businesses should offer better protection for customers in cases like these? Share your opinions in the comments below!
