Why did Liz Claiborne sign a credit card deal with former predatory lender Household International? Are they following the expansion example of non-performing Saks, another Household International (now HSBC) merchant? Here’s the answer:
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Saks and Bon-Ton both decided to use HSBC (Household International) to finance their in-store credit cards. HSBC Watch speculated almost two years ago that Saks was a troubled merchant. “Often when a merchant aligns themselves with a predatory lender they need every dime of profit, no matter how they get it. Saks CEO Brad Martin made it into our quotable quotes with his glowing comments about Household International just before Household was sued in 48 states for predatory mortgage lending. We will watch Bon-Ton too” said HSBC Watch. Here is the press release from today:
A new dedicated forum for HSBC NV was created on October 17, 2005 within the HSBC Watch forums. Many consumer complaints indicate HSBC NV is now on their credit reports as identity theft or credit card fraud. Although many reports about HSBC NV are found by searching our website, the problem with HSBC NV has turned into a trend.
All California Good Guys stores close, while home entertainment products and expertise expand within CompUSA locations. In response to consumer buying preferences and demands, Good Guys is closing the doors to its 46 locations. n According to GoodGuys.com “After more than 30 years of providing the best in high-end entertainment products, along with unmatched service and support, our freestanding stores are closing, and the Good Guys web site is no longer available for transactions.”
CompUSA’s new CompUSA and Good Guys Megastores open Friday in several cities across the country. In December 2003, Dallas-based CompUSA bought Good Guys, an Alameda, Calif.-based specialty retailer of high-end entertainment electronics.
