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Andyorch

Coronavirus: 60,000 complaints over refunds and price hikes

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A UK government watchdog has received more than 60,000 complaints over companies linked to the coronavirus, with widespread anger over refund policies and price hikes.

 

The Competition and Markets Authority (CMA) has already warned firms not to breach competition and consumer protection law. But many customers have faced problems securing timely refunds for services, events and trips as companies struggle to cope with unprecedented levels of cancellations and collapsing revenue.

 

The CMA said on Thursday it had been contacted more than 60,000 times about coronavirus-related issues between 10 March and 17 May. Three-quarters of complaints involved holidays and air travel, with the CMA anticipating issues will continue to grow as the summer holidays approach.

 

The watchdog was keen to emphasise that most UK firms had behaved properly, however. The 16,000 firms complained about are “a very small minority of the more than 5.9 million private sector businesses in the UK,” it said in a statement.

 

https://uk.yahoo.com/finance/news/coronavirus-complain-refund-how-government-compensation-rules-cma-143110413.html

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I wonder whether this is going to become a more widespread issue.

 

If the supply chains have ground to halt due to the virus shutting down manufacturers, you could see there being large price increases for the stock that is available.

 

For example, say your car develops a fault and you need a new part.  I could see parts becoming much more expensive. If they are not going to be selling as many cars, they may see parts and servicing as a way to make money. 

 

And if you order and pay for items online, should they not have the stock immediately available, I can see companies holding on to money and constantly changing the expected delivery timescales.  


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