- Report: #1519679
Complaint Review: Touch of Modern - Irvine California
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Author Not Confirmed
Why?
Touch of Modern
5151 California Ave. Irvine, 92617 California, United States
Phone:
7146547531
Web:
https://www.touchofmodern.com/
Categories:
Business Rating:
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Touch of Modern I want to make sure that no other companies will fall victim to the fraudulent activities and bad faith demonstrated by the company named "”. Irvine California
My name is Aaron. I am the co-founder of Trigger Point Systems, a California-based business. We design and manufacture fitness/massage products. The reason I am reaching out to you today is because I want to make sure that no other companies will fall victim to the fraudulent activities and bad faith demonstrated by the company named “Touch of Modern”.
We started doing business with an E-Commerce company named "Touch of Modern". Touch of Modern sells products in "online events", where they offer different products for limited periods of time (typically 5-7 days). The payment term that we agreed upon was net 60. After the first event, they messaged us saying that because our event was so successful on their platform, they would like to do another event with our products.
Although they had not paid us yet for the first event, we agreed to do another event with them, which was also a success (in regards to selling numerous units). They then did the same, and we agreed to do a 3rd event with them. All 3 events were within the 1st net 60 time period so they were not obligated to pay us for any of the units sold at the time.
Fast forward to June 22nd, 4 days before the payment of the 1st event was due to us (for the units sold during the 1st event). We then receive an email from their "head of sales/sourcing/buying" saying the following:
-ToMo is alive and well. Though ToMo has been restructured, we are very much open for business and will be paying suppliers and vendors in full for goods and services after the acquisition date.
- ToMo will pay suppliers and vendors in full for goods and services after May 27, 2022. Due to the nature of the acquisition and the ABC process, ToMo is not responsible for any of Touch of Modern’s liabilities such as debts and outstanding vendor payments preceding the acquisition.
From my understanding, company restructuring is not something that happens overnight, it usually takes months (at least 60 days) to hash out all the details. We feel like our company was onboarded during this time period, despite Touch of Modern being essentially bankrupt.
To us this email pretty much says that they knew that they were going bankrupt but still accepted brands/companies like ours, despite knowing that they had no intention of paying us for the inventory that we sent out for their customers. They accepted payment from the customers but they are turning around to tell us that they don't have money to pay us back. I find this to be extremely unprofessional, fraudulent, and bad faith.
