Canon USA discovered 10 days ago that the company handling its consumer rebate checks filed for Chapter 11 bankrupty, leaving customers waiting for that extra cash in a lurch.
According to digital-camera site Digital Photography Review, Canon advised customers not to cash the checks because they would bounce.
Now, Canon, which has a large research and development office in Irvine, has updated its Web site saying customers will all be paid. A small portion of customers however, did get their checks back unpaid, but Canon says it will reimburse those customers for the returned check charge (More details on how to claim this on Canon’s site.)
What is not known is what Continental Promotion Group, the third-party rebate processing company, did with the money Canon paid it to dole out the rebate checks. “The funds provided to them by Canon U.S.A., Inc. (and other companies) are no longer available to satisfy the rebate checks that CPG issued on behalf of Canon and other companies,” says Canon.
This will be interesting to see what happens to the world of mail-in rebates, which are prevasive in the electronics and technology markets. Continental Promotion Group, according to its site, has 500 national and international clients.
And a quick scan of RipoffReport.com shows that the rebate processor has at one time or another handled rebates for TigerDirect, Samsung Electronics and Home Depot, to name just a few.
While anyone who has already received a rebate check from Canon is covered, those who still need to mail in the rebate claim need to send the form to a new address:
Canon USA Rebates
P.O. Box 342140
Bartlett, TN 38184
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