With the future of Mothercare’s 79 UK stores at risk – including branches in Havant and Southampton – thousands of people with gift cards and vouchers could lose out if the company declares them invalid.
Spencer Roberts, at Resolver.co.uk, advised customers not to delay spending vouchers, and said: ‘Use your vouchers and gift cards before it’s too late.
‘If you have Mothercare gift cards and vouchers, it’s best to cash them in as soon as possible.’
How to protect your money
Thousands of Mothercare customers who have already paid for products but are yet to receive them may be left out of pocket if the company goes bust – this is particularly true if they paid with cash or by cheque.
But if you paid by credit card, section 75 of the Consumer Credit Act can help protect your money. As long as the payment was more than £100 and less than £30,000, section 75 of the act allows you to reclaim the money back from your card provider.
While there is no law to protect your money if you paid by debit card, you may still be able to get your money back. You can ask your card provider to recall your payment urgently using their ‘chargeback’ scheme.
More on Mothercare
Mothercare was founded in 1961 by Iraqi-born British entrepreneur Selim Zilkha and James Goldsmith, and soon became one of Britain’s largest retail chains. In 1986, it merged with British Home Stores, before selling the company to Sir Philip Green in 2000.
After the financial crisis in 2008, Mothercare struggled with lower than average sales, and announced a major restructuring in 2011.
The company closed 50 UK stores in 2018, before announcing that it would try to sell off its entire UK arm in 2019, after sales dropped by almost 25 per cent.
Earlier this week, Mothercare announced that it was calling in administrators to handle the future of its UK stores.