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14/02/2020
Small Businesses Unite Against TV 'Scam'
Some 200 small local businesses have alleged they were mis-sold plasma TV screens in an advertising "scam".
The aggrieved companies are searching for answers after signing up to a finance scheme to buy screens for their premises, the money for which they believed would be reimbursed by a company called Viewble Media that would sell advertising on the displays.
Retail NI united the members to call for a solution at a meeting in the Crowne Plaza hotel on Wednesday night, 12 February. Political representatives joined over two hundred independent retailers in seeking a solution to the scheme.
Business owners believe they have been scammed into paying out money each month for the televisions, on the agreement that it would be refunded via advertising, by a company that has since went into administration.
Some retailers have over two years left on their finance plans of around £11,000 but are no longer receiving any income from Viewble Media.
As a result, the business owners have been left angry and frustrated and believe they were mis-sold the product.
Retail NI Chief Executive Glyn Roberts said: "This is a huge problem for a big section of our membership who are already struggling with high business costs such as rates and energy. We have been in contact with the Financial Ombudsman and would urge our MLAs to support our members in finding a solution.
"Our members are clearly not getting what they signed up for and need to be released from their finance agreements for these redundant plasma screens. I am disappointed that Grenke, the finance company, will not even meet with Retail NI to discuss possible solutions and would urge them to engage with us."
(JG/MH)
The aggrieved companies are searching for answers after signing up to a finance scheme to buy screens for their premises, the money for which they believed would be reimbursed by a company called Viewble Media that would sell advertising on the displays.
Retail NI united the members to call for a solution at a meeting in the Crowne Plaza hotel on Wednesday night, 12 February. Political representatives joined over two hundred independent retailers in seeking a solution to the scheme.
Business owners believe they have been scammed into paying out money each month for the televisions, on the agreement that it would be refunded via advertising, by a company that has since went into administration.
Some retailers have over two years left on their finance plans of around £11,000 but are no longer receiving any income from Viewble Media.
As a result, the business owners have been left angry and frustrated and believe they were mis-sold the product.
Retail NI Chief Executive Glyn Roberts said: "This is a huge problem for a big section of our membership who are already struggling with high business costs such as rates and energy. We have been in contact with the Financial Ombudsman and would urge our MLAs to support our members in finding a solution.
"Our members are clearly not getting what they signed up for and need to be released from their finance agreements for these redundant plasma screens. I am disappointed that Grenke, the finance company, will not even meet with Retail NI to discuss possible solutions and would urge them to engage with us."
(JG/MH)
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