In a written statement to TWICE Gordon Brothers said that under the terms of the sale that the company could only purchase certain assets controlled by Coby’s secured lender.
“The conditions of the sale were such that Gordon Brothers Group did not assume any of Coby Electronics’ outstanding liabilities or obligations that were part of its prior business. Additionally, Gordon Brothers Group did not purchase customer returns inventory and did not acquire or receive any cash or consideration related to money orders or shipping fees paid by customers related to the return of inventory to the former Coby Electronics,” the company said.
Many customers of the now defunct Coby had asked online via various publications, including TWICE, how they could retrieve products that were sent in to Coby for warranty repair. According to Gordon Brothers this situation is out of its control.
While expressing empathy for Coby’s customers Gordon Brothers reiterated that it has no association to any of the business conducted by the former Coby Electronics.
“We understand that Coby had preexisting policies and procedures. The policies were controlled by the previous company and Gordon Brothers Group never had nor will be able to gain insight into those policies in order to rectify circumstances. Further, Gordon Brothers Group is unable to answer questions as we do not have contact information for anyone associated with the former Coby business,” Gordon Brothers said.