Franchise company JH Caps declares bankruptcy, prompts clearance sale at Gigantti stores in Riihimäki, Forssa, and Hyvinkää

A franchise company operating Gigantti stores in Riihimäki, Forssa, and Hyvinkää, JH Caps, has declared bankruptcy, prompting a clearance sale at the locations. Discounts began at 30% and will increase as the sale progresses. However, despite these reductions, customers may find that the final prices are comparable to those at functioning Gigantti stores. This is because, during a bankruptcy sale, discounts are calculated from the suggested retail price (SRP) rather than the lower sale prices that were in effect prior to the bankruptcy filing.

Customers have raised concerns on social media about the accuracy of discount percentages, noting discrepancies between shelf prices and what they are charged at checkout. Riihimäki store manager Niklas Oinonen acknowledged that some pricing errors could have occurred due to the rushed nature of setting prices just an hour before the sale began. He noted that, in some cases, the checkout prices may actually be lower than expected.

Lassi Nyyssönen, the bankruptcy trustee from law firm Fennos, emphasized the importance of verifying product conditions and suggested retail prices before purchasing. If customers find pricing errors or are dissatisfied with final prices, they are under no obligation to complete the purchase.

In bankruptcy sales, products are sold “as is,” without rights to exchange or return, and the seller does not provide guarantees, although factory warranties may still be valid. Additionally, since the company will not continue operations, it is not required to pay value-added tax, immediately reducing product prices by 25.5%. Discounts are expected to rise to between 80-90% toward the end of the sale, although stock will be limited. The sales are expected to continue into next week as stores aim to clear their inventory.