VL in Texas said this about HSBC merchant Pet Land: “I purchased a puppy from Petland in Georgetown, Texas on November 30, 2008. Since that time my vet bills have consumed over $500. My puppy has several digestive problems, yeast infections in both ears, a foreign body growing on her spine. She continues to have diarrhea and vomiting. She is on eight different medications! I tried to talk to management at Petland and was forced out of the store by four large male employees who were calling me and my daughter profane names. They refuse to talk to me at all and have had me banned from their store. The corporate offices of Petland have refused to help me at all. These poor little creatures are nothing more to them than commodities. I will NEVER shop at Petland and am telling my story to everyone in hopes of saving someone else from the sad Christmas my grandchildren and I will have this year.”
Editor’s Note: HSBC - North America’s retail services business has entered into a new agreement with Petland, Inc., to launch and manage a private label credit program that consumers can use at any of Petland’s stores nationwide. The announcement was made on October 25, 2006. “In our continued effort to provide our customers with an enhanced shopping experience, Petland is excited about our new partnership with HSBC and the introduction of our new private label Petland credit card,” said Joe Watson, vice president of retail operations for Petland, Inc.
On December 10, 2008 a $20 million lawsuit was filed against Petland as former franchisees accuse Petland and Hunte of fraud, negligent misrepresentation, and sick puppies. The lawsuit states that “Plaintiffs and members of the class were fraudulently induced to purchase failing Petland franchises for hundreds of thousands of dollars per franchise when Petland knew, or should have known, that the franchises could not succeed.” (see more)
Why is this important, and how does it pertain to HSBC? If you check the financials and legal problems of merchants with whom HSBC has credit card contracts and agreements you will find out. Best Buy consuemr electronics is an exception as far as the balance sheet is concerned, but a recent investigation focused on the relationship between Best Buy and HSBC relative to insurance and interest-free financing.
Related posts:
