Gift card holders have been left out in the cold by the Dick Smith collapse. Photo: Josh Robenstone
Australia’s largest investment bank has backed a proposal to secure funds from the sale of gift cards in a trust so customers are not left empty-handed if the business collapses.
The suggestion was made after customers were left with thousands of dollars worth of unredeemable Dick Smith gift cards when the electronics retailer collapsed in January and receivers Ferrier Hodgson refused to honour the cards.
Investment bank Macquarie Group has said that establishing separate trusts for funds from gift cards may …
Read the full article at: http://www.smh.com.au/business/retail/support-grows-for-gift-card-protection-after-dick-smith-collapse-20160411-go3bgq.html