Will You Get Your Mail-In Rebate?

We have it from good sources currently that CPG owes consumers somewhere in the neighborhood of $9M to $12M worth of rebates. The problem here is that CPG currently only has about $3M in cash to cover that $9M-$12M in rebates owed to the consumer. Where that money has gone to is anyone’s guess and we will leave speculation up the law enforcement authorities and the courts.

Currently CPG is contacting its customers telling them that they will need to yet again deposit money into CPG accounts in order for CPG to have the cash to cover rebate checks to consumers. This is money that companies have already paid CPG previously. CPG is telling its customers that if they do not pony up AGAIN, consumer rebate check payments are in jeopardy. In our example above, CPG is not sure where the $100,000 is that Company X paid them, but we are sure that they want another $100,000 or CPG will start bouncing consumers’ MIR checks.

Your Mail in Rebate May Be In Jeopardy,” by Mike Bennett, [H]Enthusiast, November 13, 2008

Just a day after it handed out pink slips to 17 employees, CPG Marketing Inc. and Continental Promotion Group Inc. of Tampa have filed for Chapter 11 bankruptcy protection Friday.

Continental Promotion seeks bankruptcy protection after layoff,” by Michael Hinman, Tampa Bay Business Journal, November 14, 2008

Caution is necessary here on any rebate through this holiday season as outcome of this mess is uncertain at this time.

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Continental Promotion Group