MoneyDon't Waste Your Money


Beware going out of business sales that aren't that cheap

Beware going out of business sales that aren't that cheap
Posted at 6:41 PM, Feb 25, 2020
and last updated 2020-02-25 19:48:52-05

With hundreds of stores closing their doors in the next few months, liquidation sales are starting every day, promising huge markdowns.

First it was Sears, now Macy's and Bed Bath and Beyond closing stores all over the country.

These days it seems you can find liquidation sales everywhere, but a caution before you shop one at one.

New store closing sales every week.

Sears, Macy’s, JC Penney, Game Stop and more.

Remember Radio Shack and Payless Shoes? They're completely gone.

But as shoppers often find: the closing deals may be no deal at all.

"Too high for something going out of business,” one shopper said.

The Better Business Bureau says the problem is that:

-- Stores raise prices to full list price before starting a liquidation sale.

-- They then start at just 5% or 10% off.

-- The item may still be cheaper at Amazon

By the time the deals get down to half price, the shelves are usually bare.

And from the doesn't that stink file, the risk of shopping for appliances or electronics at liquidation sales.

In most cases, all sales are final! If it doesn't work, there are no refunds.

Doesn't that stink?

And if the chain still has other stores open, you may still be out of luck, because a third-party liquidator is running the sale, not the store chain -- like Sears or Macy's.

No returns, sorry Charlie.

Bottom line: you can score a great deal, but make sure it’s really a great deal because you can’t return it.

So don’t waste your money.