Before BK SHC was using inventory to back the loans. It was a shell game of ordering inventory and using that inventory to cover the previous loans and then hoping that they would sell that product to have enough money to cover the next loans. It was like a giant inventory Ponzi scheme. The scheme came to an end on Monday when they could not keep the con going
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I know WinIt someone posted on fB that the ads they run "pay for the points "...that's how they make money.
I know I buy my kids a new outfit every week with points from their credit card and WinIt app
@VIPOMLT-1yzn, but how about points that aren't earned in that particular store like with the WinIt app and other contests? The whole system is incredibly shady. Oh well, I'll keep at it until I have enough free off brand toilet paper to get me through the next several years (or whenever Sears goes kaput).
@VIPOMLT-1vvf No, the scheme with SYW is this (speaking with P/L knowledge)
Every transaction rang under SYW for that particular store pays for thats members SYW points, it comes right off the stores P/L, line item (among others about SYW servicng fees etc c-ap we pay SYW to be a part of SYW etc)
So with this in mind, when the members dont redeem their points and they expire, who actually ends up with "that" real cash that was siphoned off of the stores P/L?
Hint: The store does not receive a "credit"
I feel like ShopYourWay is a scam too, to show 'sales' that aren't actually sales when things are purchased with points. Can anyone confirm/deny?
But if we just posted cheerful notes on social media asking people to shop with us it will solve all of it!!!
Yes, this is just one of many cons Eddie and co. have been running to delay the inevitable. The cheerleaders are wholly and intentionally ignorant of just how dire the circumstances are, so they assume all can be fixed by merely improving sales.
Not....a.....chance. The debts are worse than stated, the revenue is worse than stated, the losses are worse than stated, and the dead bodies are stacked ceiling high in every room of the house. It won't be fixed by Molly Maid showing up with her duster, as the cheerleaders think.