March 13, 2013

Entertainment Coupon Books declares Bankruptcy

I guess I won't be writing about the Entertainment.com Coupon books any more.   They've apparently declared chapter 7 bankruptcy :

Coupon book company Entertainment shuts down headquarters in Michigan, lays off hundreds


Chapter 7 bankruptcy is generally the kind of bankruptcy where a company just shuts down and liquidates.   While its possible they might be resurrected or bought out and continue business in some form, at this point they are essentially shut down.

Their website is still alive and has not notification there but that may be due to the pretty abrupt nature of their bankruptcy filing.   Employees were not given any advance warning.

Its unclear at this point if merchants will still honor the Entertainment book coupons.   In general I see no reason why they wouldn't do so.   My understanding is that the merchants don't pay or receive anything from Entertainment to do the coupons so the bankruptcy shouldn't have any direct impact on the merchants.   But thats mostly my assumption and what will happen remains to be seen.  The answer may very well vary from merchant to merchant.

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1 comment:

  1. Wow - guess there's just too much competition from Groupon, Living Social, etc. these days. Thanks for the update.

    ReplyDelete

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