Due to an overwhelming response from our earlier article which indicated that TeamBuy and Dealfind were filing for bankruptcy, we decided to do a little digging by ourselves. With no official word from either TeamBuy or Dealfind we wanted to see actual customer engagement with the two brands, and let us tell you it’s not pretty right now. As of the writing of this article, it is becoming increasingly difficult to gauge customer sentiment because it appears that the two coupon sites are actively managing their Facebook pages, deleting and hiding angry customer comments. in an apparent effort to have her voice heard, one Team Buy customer has taken it upon herself to plaster TeamBuy’s Facebook page with:  “Did you guys actually just screw over your customers who have TeamBuy bucks with you? Actually?” If you head over to Team Buy’s Facebook page, you can see her writing this on every post!

As of now, the sites are still running, and we cannot confirm in actuality if Team Buy really is going under, here’s an example of a message you’ll get from the company when you inquire about your Team Bucks:

Teambuy2

 

Let us know if you are able to redeem your coupons!

 

  • Bob

    As someone who happens to be close to the matter at hand, I have a pretty clear understanding of what’s going on there (spoke with them at length for clarity):

    As part of the legal restructuring, an Acquisition proposal is in final stages of review and approval by the courts. They expect the acquisition to be finalized in the next 10days or so. In the interim, restrictions exist around operations, and include a freeze on liabilities before the filing date (Aug 29), which the courts are mandating as part of this process.

    They are still operating and have live deals on their site because the courts are also mandating that they honor and promptly pay any and all merchants for all sales made after the restructure proposal filing (must operate business as usual, with no new liabilities). In the event that a merchant is making clear they will not honor any vouchers or ship any products (because they are upset about the pre-filing date owing balances), TeamBuy/Dealfind is taking these deals down promptly and logistics are being sorted.

    Overall, this is clearly a complex matter, with many moving parts and it seems to me they are working through it to have a positive outcome (that should be announced soon), which will hopefully have a positive impact on Merchants, Customers and Staff. People maybe shouldn’t jump to too many conclusions until an official statement is made after this acquisition is finalized. That’s just my opinion.

  • Bob

    Most of what I’ve been told seems to have been told to these folks as well: http://www.itbusiness.ca/news/teambuy-and-dealfind-near-bailout-acquisition-while-merchants-seek-answers/51085

  • Bob

    As someone who happens to be close to the matter at hand, I have a pretty clear understanding of what’s going on there (spoke with them at length for clarity):

    As part of the legal restructuring, an Acquisition proposal is in final stages of review and approval by the courts. They expect the acquisition to be finalized in the next 10days or so. In the interim, restrictions exist around operations, and include a freeze on liabilities before the filing date (Aug 29), which the courts are mandating as part of this process.

    They are still operating and have live deals on their site because the courts are also mandating that they honor and promptly pay any and all merchants for all sales made after the restructure proposal filing (must operate business as usual, with no new liabilities). In the event that a merchant is making clear they will not honor any vouchers or ship any products (because they are upset about the pre-filing date owing balances), TeamBuy/Dealfind is taking these deals down promptly and logistics are being sorted.

    Overall, this is clearly a complex matter, with many moving parts and it seems to me they are working through it to have a positive outcome (that will be announced soon), which will hopefully have a positive impact on Merchants, Customers and Staff. People maybe shouldn’t jump to too many conclusions until an official statement is made after this acquisition is finalized. That’s just my opinion.