Little is known about this action, except that Entertainment Promotions was unable to secure funding and closed its doors after 50 years Tuesday, laying off 667 employees. This company publishes the book of discount coupons sold online and by thousands of parents and students in 95 markets to raise funds for band, football, and other school activities.
Despite the closing, as of Tuesday afternoon, Entertainment Promotions' website was still taking orders for books. The company's Facebook and Twitter pages were still posting offers for the books on Tuesday morning.
Company officials were not talking Tuesday except for an outside spokesman, Bill Daddi, who confirmed the closing but said he could not reveal any other details. He referred calls to the company's legal counsel, which did not return calls.
Many blog posts reported the closing, and expressed concern that buyers of the books could find that the coupons may not be honored once the news reaches everyone.
website - www.entertainment.com/discount/home.shtml
Twitter - https://twitter.com/EntDotCom
Detroit Free Press report - http://www.freep.com/article/2.....bankruptcy
This offer is posted on their website, where people can still order the discounted books.
It's unclear if orders placed after today would be honored or cancelled.