Cashback News: Quidco Statement about DGM administration

Quidco have now also addressed the issue causing havoc among all the major UK cashback sites this week, read what they had to say below.

The purpose of this statement is to give you an update on DGM in a way that is as open and transparent as possible. Our aim is to add clarity following some poor communication on our part and a lot of rumour and speculation.

On Friday 16th July Quidco was advised that DGM were going into receivership, leaving to the best of our knowledge, Quidco and thus 24,723 Quidco members owed nearly £400,000.

This follows several months during which we were constantly promised payment, which, based on a 5 year trading relationship we took in good faith. Over the last several months we have paid 11,946 Quidco members £194,000 of money owed to them by DGM.

This money came out of our own pockets as we have always tried to keep member payments going out in as timely manner as possible, even if the networks are slow in paying us. We have done this without fanfare, fuss or blogging over the last few months.

However, despite us paying £194,000 there is still over £200,000 owed to Quidco members by DGM.

So in short, we know it is a tough situation for our members. This situation is our ultimate nightmare, but please bear with us as there is still hope for a positive resolution for all.

Finally, know that we are fighting our corner for our members, trying everything possible to get this money back and putting in processes to help avoid this happening again. We will keep you updated as soon as we know more.

If you have any questions relating to this matter please contact our customer care team and we will get back to you as soon as possible.

Michael Murphy,
Chief Executive
Quidco