Beware of bargains at stores soon to close

Consumers should be careful with warranties, returns and gift cards.

STAFF REPORT

A sagging economy presents another risk for shoppers: going-out-of-business sales.

Shoppers need to take extra precautions when dealing with retailers that are going out of business, the Ohio attorney general’s office said.

“We want consumers to realize the risks that are involved,” said Manilath Southammavong, consumer educator for the state.

Most sales are final, and returns often are not accepted during closing sales, she said. Consumers should consider this when making purchases, she said.

Also, she noted that these sales often are termed “everything-must-go” or final liquidation sales to give them a sense of urgency.

Consumers should beware of misleading price comparisons. Southammavong said consumers should notify the attorney general if they see a store advertising a discount that doesn’t seem likely to be real.

For example, shoppers who frequent a store may be able to tell if a “50 percent off” sale is realistic or if the store has inflated its original prices to advertise a larger discount.

Consumers also should check out the warranties before buying at a store that is closing, Southammavong said. If the warranty is through a manufacturer, it is likely to be honored, but a warranty from a store may not have any value, she said.

She added that the state also regulates the length of going-out-of-business sales. They are limited to 45 days, although they can be approved to last 90 days.

The state also advised consumers to use gift cards as soon as possible if a store files for bankruptcy protection. Cards issued before bankruptcy still should be accepted, but bankruptcy courts can place restrictions on cards.