The Plastic Merchant Has Finally Filed for Bankruptcy
The drama with The Plastic Merchant (TPM) has a new chapter, this one being a bankruptcy filing. For those unaware, The Plastic Merchant (TPM) was a gift card middle man that purchased gift cards from many people and then re-sold them at a profit. Last year, they said the company owner was sick and not working, started bouncing checks, and then they basically went under. This left a bunch of people unpaid, myself included.
The Plastic Merchant Backstory
To make a long story short, the owner disappeared, checks were bounced, and people were rightly upset. The website eventually disappeared, calls and emails went unanswered, and people sought legal action from the Missouri (site of the owner) government. The Missouri AG decided not to pursue anything. The website even showed a sign of life earlier this year.
TPM filed for bankruptcy in Missouri this week (link to filing documents), so there’s a new chapter. There are some interesting things in the document, like claiming Magic the Gathering cards as valued property. I’ve never been a claimant for a business that filed for bankruptcy while owing me money, so this will be interesting.
Final Thoughts on The Plastic Merchant
TPM was great while it lasted, but the way it folded up and disappeared is fishy, to say the least. I don’t buy the story they previously released, so it will be interesting to see how this goes down in court. We’ll keep you updated, since this affects some of our readers. If you know anything more, feel free to share it.
Hat Tip: Dawn in our Facebook reselling group