There was some bad news in the incentive marketing industry this week – Chattanooga-based incentive and reward program services company Incentium (formerly VIPGift.com) suddenly shuttered their business, apparently falling victim to the soft economy we’ve all been struggling with recently. Does anyone have any insight to exactly what happened at Incentium?
The Incentium.com Website currently reads:
Due to difficult business and economic conditions, Incentium, LLC (the “Company”) was forced to permanently cease all business operations effective February 9, 2011.
Company assets will be liquidated in an orderly manner for the benefit of its creditors. Any correspondence regarding this matter should be sent to: Incentium Liquidation, P.O. Box 4069, Chattanooga, TN 37405 or emailed to: liquidation@incentium.com.
It’s shocking that a leading company failed, but not totally unexpected. During the last two years at Loyaltyworks we’ve seen clients of all sizes and industries terminate their reward programs (or downsize incentive program budgets), and prospective clients back-burner plans for incentive marketing – it’s been an incredibly tough market.
Unfortunately the Incentium closure leaves 80+ unemployed and a host of clients without support for their programs. Feel free to contact me if Loyaltyworks can be of assistance in any way.
Loren Weaver
loren.weaver@loyaltyworks.com
Hello,
I wanted to ask you what can I do if I still have money on a debit card issued by VIPGift but they closed the account before the due date. I called the number listed on the card but they keep telling me that i need to call the company that issued the card. Do you know what do I have to do?
Hello Anda,
Thank you for taking the time to write a comment – I’ve sent you a direct email response. Unfortunately Loyaltyworks is not affiliated with VIPGift.com or Incentium. That entity appears to have closed it’s doors with no plans to further assist clients or customers.
Hi,
I have a similar scenario as Anda–can you please provide insight/guidance? I realize that Incentium appears to have closed its doors…but does this mean everyone who still had money on their cards is just out of luck? There’s no way to redeem their cash? Thanks!
I believe so, Rene. As we are not affiliated with Vipgift, we have no further insight, apart from what’s been published online. I did some more research on this, you might want to check this out.