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New Reef Collective (1 Viewer)

Jake

Jake

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Just thought I would give a shoutout to the new Reef Collective. Got a good price on a great looking Foxface today. Looks like they have a pretty good selection of fish and the prices were pretty decent. Just wanted to wish them luck. told them to reach out to the club as well.IMG_3247.jpeg
 
Oh are they open now? I saw their post a few weeks ago that it would be soon.
 
They opened on Friday. Pretty sure their hours are posted on Facebook.
 
They said they were aware of the club so hopefully they well reach out to get some extra exposure
 
That is great. I didn’t know they were reopening. Is it the same owners or new?
 
zoolan70 said:
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No. They said it is a new company now -- ReefCo not Reef Collective -- just using the same space and honorary name so they wouldn't be honoring any gift cards.

I'm personally really curious about the structure of that business sale/new business and if there is legally any liability for that store credit. Definitely a fine line between one store going out of business and another opening in this particular case. If they bought Reef Collective, I suspect they'd have to buy that outstanding debt from the gift cards/store credit, but if they truly just rented the same space and didn't buy RC's old equipment (or bought it at auction free and clear) then not?

I didn't have any store credits so don't have a dog in that fight and just think its a fascinating case study. Regardless, I think that's going to leave a bad taste in people's mouth's and they would have been better using a totally new name to separate themselves from that particular issue altogether.

Looking forward to making a trip up there sometime and checking them out!
 
Unfortunately I missed out on several hundred dollars in credit. Who knows if that was even kept on the old books. Nice people and I hope they are successful.
 
miltonkl said:
No. They said it is a new company now -- ReefCo not Reef Collective -- just using the same space and honorary name so they wouldn't be honoring any gift cards.

I'm personally really curious about the structure of that business sale/new business and if there is legally any liability for that store credit. Definitely a fine line between one store going out of business and another opening in this particular case. If they bought Reef Collective, I suspect they'd have to buy that outstanding debt from the gift cards/store credit, but if they truly just rented the same space and didn't buy RC's old equipment (or bought it at auction free and clear) then not?

I didn't have any store credits so don't have a dog in that fight and just think its a fascinating case study. Regardless, I think that's going to leave a bad taste in people's mouth's and they would have been better using a totally new name to separate themselves from that particular issue altogether.

Looking forward to making a trip up there sometime and checking them out!
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I agree with the sentiment about leaving a bad taste in people's mouths over lost store credit, especially since Reef Collective closed abruptly and didn't allow for people to use that credit even if they wanted to. I'm in the same boat as many others that had hundreds of dollars in credit from buying my Red Sea setup, and it's a real bummer it can't be used and is effectively a loss.

Are they actually a "new" entity?
 
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Ya I'm in the same boat, lots of store credit.. but well... I guess I'll eat it and move on. Give them a chance as well... Just saying..
 
I'm not sure if this makes anyone feel any better, but have you considered the scenario where RC actually filed for bankruptcy at the time? (I'm not sure if they did or what happened, but ...) But if they filed for bankruptcy, I think that will make it a bit harder for people to claim their store credits. ... And even if people could go through some sort of claiming process for that, I think that might be a bit tougher as well as it requires proof that you have the store credits :). As far as I know, the last time I brought in something and got some store credits, I left with their words saying 'you have the store credits in the system' and I didn't get any printout or such for record keeping. I still remember leaving, thinking: Weird! What's up with that?!! :D The store credits were associated with the accounts and the phone numbers. I was thinking: Anyone can give them my phone number to get my store credits! ... And since I'm very suspicious and didn't feel very secure about it, and pretty shopaholic too, I ended up using up my store credits immediately or almost immediately. So, lucky me!!! I only had a few 'points' left in their system when they closed down overnight! 😂😂😂 ... In any case ... 😛
 
I agree, I lost a bunch too but I am very happy we have 2 small reef businesses in town who support our hobby and whom we can support.
I wish them success and hope the local scene grows stupendously 😁
 
Was there over the weekend.. store looked great and new owners are amazing. I picked up a strawberry dottyback which I will prob regret. lol

I also mentioned losing store credit. They were emphatic but it is what it is. Doesn't sound like they will be implementing any new rewards system either. They said their focus was on lower prices.
 
Jjdurrant said:
Was there over the weekend.. store looked great and new owners are amazing. I picked up a strawberry dottyback which I will prob regret. lol

I also mentioned losing store credit. They were emphatic but it is what it is. Doesn't sound like they will be implementing any new rewards system either. They said their focus was on lower prices.
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Happen to see what they had for salt or frozen food? That’s basically all I buy these days and like to support LFS.
 
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