'Going Out Of Business' store forced to change name
Filed under: Ripoffs and Scams, Buyer Beware
When I pass a store sporting a large sign that reads "Going Out Of Business" I presume that it is, well, going out of business.
Not necessarily, however; a Texas businessman, after experiencing the frenzy that these words inspire in bargain vultures, decided to name his ongoing rug business "Going Out Of Business."
According to the Wall Street Journal (subscription required), owner Cyrus Hassankola has done brisk trade in previous locations by going out of business. Unfortunately, the hurmorless, anti-business Texas Attorney General's office has forced him to rename his store, at least temporarily.
I ran into a similar strategy years ago when buying T-shirts for an event. The brand of the shirt stock was "Made In The USA," which meant they could have been made anywhere in the world.
If Hassankola wins his fight with the Texas AG, it could spawn a whole new store- naming protocol. I wouldn't be surprised to find chains adopting names such as:
- "Sheriff's Sale"
- "Divorce Sale -- Hurry, Before He Finds Out I'm Selling All His Toys"
- "I'm Drunk -- Make Me An Offer"
- "Garage Sale Friday and Saturday 9 a.m. -- ????"
- "Stuff Left In Unlocked Cars"
- "Junk I Fished Out Of The Trash"
- "My Son The Fence -- Inventory Reduction"
- "Evicted! Lawn Sale Today Only"
- "IRS Liquidation"
- "We All Went To Lunch And Forgot To Lock The Door"
Money Clips
- HILARIOUS: Warren Buffet Plays Axl Rose in New Commercial - Huffington Post
- ON THE PLUS SIDE: Where Home Prices Are Rising - CNNMoney
- FRICTION: Could China Trade War Put Walmart Out of Business? - 24/7 Wall St.
- PROFILE: Opinionated Auto Industry Insider Dies - FORTUNE
- DON'T LAUGH: More Homeowners Turning to Fake Grass - SmartMoney
- HIT HARDEST: States Hurt Most From Rising Gas Prices - CNBC
- GET YOUR MONEY'S WORTH: Best Cars to Buy Used - CBS MoneyWatch
Reader Comments (Page 1 of 1)
6-24-2009 @ 2:58PM
gelman13 said...
Didn't the Japanese name a town "Usa" (NOT USA) after WW2 so they could say it was "Made in Usa"? I thought I heard that somewhere years ago, and I thought it was pretty clever. Subliminally deceptive, but clever. Also true. However, in this country (USA, all CAPS), I would think that attorneys general would consider that bordering on fraud, as it's the NAME, and not truthful of an impending closure. However, there is no bad press. Good for him.
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6-24-2009 @ 7:30PM
Kevin said...
I really don't see anything wrong with his method of advertising and selling his goods.
He is creating a sense of urgency by using the name "Going out of business sale" and if he is not misrepresenting the rugs and the buyers are happy with their purchase, then what is the problem?
After all his customers are not under age children getting hoodwinked, they are adults with a choice to price shop which incidentally most buyers are doing these days any way.
where is the spirit of free enterprise in capitalism? as long as it is coupled with honesty and integrity, we should let it flourish and not try to stifle it just because it is different than our own ideas or methods.
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