The manner in which the Sam Seltzer's Steakhouse bankruptcy was handled was among the lowest of quality. Not only did customers have no warning the doors were set to close, but the company was selling gift cards up until the last day. In an instant, an estimated $262,000 worth of gift cards became worthless.
That is usually where the story ends: a company goes under and gift cards become worthless.
Harold Seltzer's Steakhouse
Harold Seltzer, served as a key member in the creation of the Sam Seltzer's Steakhouse brand. In fact, it's named after his grandfather, Sam. In 2004 Harold sold his interest in Sam Seltzer's Steakhouse chain in a bitter dispute with family.
It easy to understand Harold's disdain for the way the Sam Seltzer's Steakhouse brand ended. Harold had nothing to do with how the company handled gift card holders and gauging by his response, it's too bad he wasn't in charge of the company at the time.
Harold is so upset, he has decided to make it up to those who were stiffed by the previous owner's of Sam Seltzer's by opening Harold Seltzer's Steakhouse and offer one free prime rib dinner for each Sam Seltzer's gift card presented.
According to the St. Petersburg Times, the Port Richey and St. Petersburg locations will reopen in late October and there is a one card per table limit.
Stepping Above And Beyond
Harold Seltzer is in no way obligated to repay such a debt. However, we believe this is a great move. By accepting the gift cards, Harold is luring back once loyal customers of the popular Sam Seltzer's Steakhouse. I'd love to see Harold's Seltzer's Steakhouse succeed. When I'm in the area, I'll be sure to stop in and buy a steak to support Harold's good intentions.