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Journal of nicholas (3034)

Monday December 29, 2008
01:35 PM

Worth less, trending to worthless

[ #38181 ]

People who received Zavvi vouchers as Christmas gifts discovered they were not being accepted in stores since it went into administration five days ago.

Which may or may not be true. But I did spot dozens of them for sale in WHSmith at Fleet Services (westbound) on 24th December. So it was still possible to be stung and become an unsecured creditor of Zavvi right up until Christmas. I wonder how many other store currencies now pose significant risk of default.

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  • this is why cash is always the best present. Just as long as you dont go and blow it on booze straight away :)
  • Shop-specific tokens are a bad idea anyway. Better to get generic ones so that the recipient can go to weird specialist shops instead of being stuck with the bland high-street names. The large book token and theatre token schemes are also less likely to go bust even if individual members of the scheme do. Unfortunately, I don't think that record tokens exist any more.