UPDATE: Here is an Update we recevied from The Entertainment Book.
“We are excited to announce that we have resumed operations as a going concern on March 27, 2013, after filing a chapter 7 bankruptcy petition earlier in March. During this time, we will to continue to serve our consumers, merchants, partners and vendors, pending our sale, which is expected to occur on or about April 22, 2013.”
The Entertainment Book Bankrupt?!
It has been reported that The Entertainment Book has filed for Chapter 7 Bankruptcy.
According to the Detroit News, “he question of whether Entertainment Book coupons would continue to be honored hasn’t been addressed by anyone involved.”
Chapter 7 Bankruptcy isn’t the kind where they restructure and try to save the company. chapter 7 pretty much says it’s over.
According to Coupons in the News, “If you’ve already paid money for an Entertainment Coupon book, you may worry whether the companies whose coupons are in the books will still honor them. Since the coupons are already paid for, there’s no reason for them not to. Of course, with the coupon company itself out of business, there’s no one to ensure that the coupons are still worth more the paper they’re printed on. But only the most unscrupulous or confused company would take advantage of the situation and invalidate its coupons.”
So, if you have bought a book, you should be okay. I just would not recommend placing any new orders at this time.