The announcement yesterday that Borders and Angus & Robertson stores would require customers to spend double the value of gift cards for them to be able to use gift cards will be regarded as a serious misstep in their administration.
While the administrators have to make decisions based on what is right financially for the secured creditors, this must also include consideration of what is right for the future of the brands – if the business is turned around and comes our of administration or if they are to have a value in the event that they are ultimately sold. I am especially concerned for the Angus & Robertson franchisees and the impact to their businesses of the decisions of the administrators.
Twitter, blogs and other online news and comment channels fired up yesterday on the news. With every angry comment damage was done to the Borders and Angus & Robertson brands.
This story has a long way to go before we will know where it ends.
Man, that stinks. I’d be really P.O.d if I copped that on presentation 🙁