Sunday, November 23, 2008

Rebate firm goes bankrupt

Continental Promotion Group, a rebate-processing firm with several major retail and supplier clients, has filed for Chapter 11, leaving some questions about whether recently issued checks might bounce. Clients include Canon, Adobe, Logitech, Samsung, and Costco.
Canon warned its customers that CPG checks issued for printer and video products may bounce. A spokesman said the company has also secured a new rebate fulfillment partner.
According to another report I saw, Canon had hired Advertising Checking Bureau to take over its rebates. ACB handles trade promotion outsourcing but, like some of its competitors in that field, also does rebates.

The financial health of outsource services is always a concern, but probably ought to move up a few points in priority these days.

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