Store closing sale caution

Don't Waste Your Money

First it was Sears. Now Macy’s and Bed Bath and Beyond are closing stores all over the country.

These days it seems you can find liquidation sales everywhere. But we have a caution before you shop one.

New store closing sales every week

The list grows longer by the month. 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 woman told us recently outside a Sears closing sale.

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, such as Sears or Macy’s.

That means no returns.

Bottom line: You can score a great deal, but make sure it’s really a great deal because you can’t return it, so you don’t waste your money.

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“Don’t Waste Your Money” is a registered trademark of Scripps Media, Inc. (“Scripps”).

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For more consumer news and money-saving advice, go to www.dontwasteyourmoney.com.

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