Continental Promotion Group, Inc., one of the nation's larger rebate processing companies, filed for Chapter 11 bankruptcy protection this past Friday. Founded in 1989, CPG handles mail-in rebates for various home entertainment and home improvement companies, including Home Depot and Canon. CPG is responsible for processing rebate claims and mailing checks on their behalf. However, the company reportedly lacks the funds needed to fulfill its rebate requests and has filed for bankruptcy protection. Some of the deals we've listed on dealnews may be affected by CPG's bankruptcy.
What to do
If your rebate is displayed in CPG's database, you will be affected by the bankruptcy. Although CPG has yet to make an official statement (we contacted CPG for this story and are still awaiting a reply), certain companies are reaching out to their customers asking them not to cash their rebate checks. If you've recently received or are expecting a check from one of the affected companies (partial list below) fulfilled via RebateStatus.com, your best best is to not cash the check, as it may bounce. Instead, keep all of your documentation intact so you'll have it handy as more news becomes available.
Partial list of merchants affected
Bed Bath & Beyond
Smith Micro Software
XFX XM Satellite Radio
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