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Consumers lose out

AROUND 250,000 consumers have suffered a financial loss after buying goods or services shortly before the supplier went out of business, new research has found.

On average the financial loss was considerable at €170, the survey by the Millward Browne revealed.

And according to the survey there is deep confusion as to whether vouchers or gift cards are covered by consumer protection regulation.

A total of 78pc of respondents said that they were not, or didn't know, if they were covered.

The vast majority, at 85pc, said that the Government should introduce legislation offering more protection.