Gift Voucher expiry date and change of ownership

Maire2007

I have a gift voucher for a restaurant in Dublin that expired Nov 2010. Also the restaurant has had a change of ownership since the issue of the voucher.

Will the restaurant still honour this voucher?

mrsbyrne

I wouldnt think so. At least your definitely not in a position to make any demands. Ring, ask to speak to the manager or the head chef, see what she/he says, but i wouldnt hold out much hope. I hate the whole voucher thing. DONT BUY PEOPLE VOUCHERS, PUT THE MONEY IN AN ENVELOPE INSTEAD. IF YOU GET A VOUCHER AS A PRESENT USE IT WITHIN A WEEK.

allthedoyles

Looks like you just happened to find this gift voucher in a drawer while searching for something else .

It is most unlikely that new owners could honour this gift voucher .

It is 11 months out-of-date . It would depend on whether the value of vouchers was taken into account during the change-over.

Your best chance of confirmation , would be to give the restaurant a ring , and explain your case .

dudara

Simply put, we can't answer this question.

The only way to know is to ring the restaurant and ask them. Just be aware that as the voucher is out of date, and that additionally, the restaurant has changed ownership, you are at their mercy.

coylemj

Maire2007 wrote: »

I have a gift voucher for a restaurant in Dublin that expired Nov 2010.

The reason that traders put expiration dates on vouchers is so that they can be written off on the books when they expire. Otherwise the accountants would tell the boss that unredeemed vouchers have to permanently stay on the books as a debt, similar to an unpaid bill.

Maire2007 wrote: »

Also the restaurant has had a change of ownership since the issue of the voucher.

Depends on the terms of the transfer of ownership. Typically the previous owner sells the business free of encumbrances which means that the new owner starts with a clean slate and any unpaid bills are the responsibility of the previous owner.

The voucher was effectively an IOU from the previous owner and the new owner is under no obligation to honour it. That and the fact that it's expired under the terms and conditions means that it's highly unlikely that the new owner will honour it.

P. Breathnach

coylemj wrote: »

The reason that traders put expiration dates on vouchers is so that they can be written off on the books when they expire. Otherwise the accountants would tell the boss that unredeemed vouchers have to permanently stay on the books as a debt, similar to an unpaid bill.

That's a poor excuse. They should be kept on the books because an unredeemed voucher is, in effect, an unpaid bill. And it's no great accountancy burden to keep a record of outstanding vouchers.

ScouseMouse

If you want to buy someone a voucher, buy it for a shopping CENTRE rather than a shop.

So if the shop you fancy goes under or closes you can use it elsewhere.

BrianD

mrsbyrne wrote: »

I wouldnt think so. At least your definitely not in a position to make any demands. Ring, ask to speak to the manager or the head chef, see what she/he says, but i wouldnt hold out much hope. I hate the whole voucher thing. DONT BUY PEOPLE VOUCHERS, PUT THE MONEY IN AN ENVELOPE INSTEAD. IF YOU GET A VOUCHER AS A PRESENT USE IT WITHIN A WEEK.

Couldn't agree with you more! I received a valuable voucher from former colleagues and was in a situation where the restaurant (well known) ceased trading in one location and moved to another.

The restaurant honoured the voucher and we had a fabulous meal and great service but there was a lot of uncertainty about this voucher - even had to confirm that it was valid before we sat down.

As Dudara says, ring and ask and confirm before you sit down. Hope it works out. Wouldn't be surprised if it was the same restaurant.

But if you do have somebody leaving your staff - give them cash or the actual present.

ytpe2r5bxkn0c1

P. Breathnach wrote: »

That's a poor excuse. They should be kept on the books because an unredeemed voucher is, in effect, an unpaid bill. And it's no great accountancy burden to keep a record of outstanding vouchers.

It is an accountancy burden, as it constitutes an aged debt against the business. One voucher would be fine but it couldn't be done in any business that has a volume of voucher trade.

Besides to have a voucher for a restaurant that is 11 months past it's expiry date sound like an unwanted gift.

P. Breathnach

Curtis Tasteless Xerography wrote: »

It is an accountancy burden, as it constitutes an aged debt against the business. One voucher would be fine but it couldn't be done in any business that has a volume of voucher trade....

As I said, it's not much of an accountancy burden -- and if it is, then there is something wrong with the firm's accounting procedures. An unredeemed voucher should not be treated as an aged debt, as it is not overdue. It is a current liability.

The suggestion that a business with a volume of voucher trade should not have a full set of protocols in place to deal with them is odd.

allthedoyles

Right guys , the answer is right here ............It is called ' Consumer Protection ( Gift Vouchers ) Bill 2009 - Seanad .

This Bill was in the House of the Oireachtas , and it protects consumers .
The net effect is that all gift vouchers will remain valid for a period of 5 years following the passing of the bill .

http://www.oireachtas.ie/viewdoc.asp?fn=/documents/bills28/bills/2009/6609/B6609s-memo.pdf

Jessica Fletcher

Was that Bill ever passed though?

dudara

P. Breathnach wrote: »

As I said, it's not much of an accountancy burden -- and if it is, then there is something wrong with the firm's accounting procedures. An unredeemed voucher should not be treated as an aged debt, as it is not overdue. It is a current liability.

In theory, any invoice can be classed as a "curent" asset/liability. But yet, most firms have policies to create bad debt provisions after a certain period of time. Later, they will eventually write off the amounts.

So in summary, I don't think it's wrong for a business to write-off vouchers, or put expiry dates on them. It simply needs to be clearly written and communicated.

For those of you who want more information, here the NCA guide to gift vouchers.

With regard to Consumer Protection (Gift Vouchers) Bill 2009. That bill is currently only in the first stage in the Oireachtas. In total, there are five stages, which means that it is no where near being enacted as legislation.

P. Breathnach

dudara wrote: »

In theory, any invoice can be classed as a "curent" asset/liability. But yet, most firms have policies to create bad debt provisions after a certain period of time. Later, they will eventually write off the amounts.

There is a difference between how you might treat debts owing to you and debts owing by you. It is fair to write off a debt due to me if I become convinced that it is irrecoverable; it is not so fair for me to write off a debt due by me because I decide to declare it irrecoverable.

So in summary, I don't think it's wrong for a business to write-off vouchers, or put expiry dates on them. It simply needs to be clearly written and communicated.

I'll grant you that it is worse when time limits or other restrictions are not clearly communicated. But if I decide to give somebody a restaurant voucher costing €200, the core fact is that the restaurant has received money on the understanding that they provide food & drink to that value (and which might contribute €90 to its gross profit, €30 to the net). It might be, for the time being, legal for the restaurant to repudiate the voucher because it is not presented by a certain date - but it is dishonourable, because they have my money and they have given nothing for it.