Shoppers with store cards could lose out as Arcadia and Debenhams enter administration
Consumers with outstanding gift cards or refund vouchers should act fast to spend them while they can, while those with pending orders face an anxious wait for them to arrive. The retail meltdown is also a warning for Christmas shoppers to avoid buying gift vouchers or cards from any store at risk of going bust in these troubled times. Kevin Mountford, co-founder of savings platform Raisin UK, said typically there is no guarantee that outstanding vouchers will be honoured once a store goes into administration: “Once appointed, administrators have the power to refuse vouchers in an effort to save the company’s finances.”
Arcadia owns 444 outlets across the UK including Burton, Dorothy Perkins, Topshop, Topman, Miss Selfridge, Wallis, Evans and Outfit, while Debenhams has 130 stores on high streets and in retail parks.
The good news is both firms plan to reopen stores to clear stocks after the lockdown is lifted today. Mountford said: “Your gift cards and vouchers should remain valid for now, but are definitely worth getting rid of while you can.”
Alternatively, you could spend your cards or vouchers on their websites as orders should be honoured.
Topshop has said it will honour all recent orders, including those made on Black Friday and Cyber Monday.
