Texas Attorney General’s Office today announced that holders of gift cards purchased from the former retailer RadioShack can now file claims seeking to recover the unused balance on their cards. The claims process is part of a settlement agreement previously approved in the U.S. Bankruptcy court in Wilmington, Delaware and was led by the State of Texas and supported by 23 other states and the District of Columbia.
“This implementation confirms that the voice of the consumer is being heard, and we are pleased RadioShack is honoring its commitment to customers holding millions in unredeemed gift cards," said Attorney General Paxton. "In any bankruptcy proceeding, it's vital that the interests of consumers are represented and considered, and it's appropriate that former RadioShack customers have this opportunity to file and eventually redeem their claims."
Under the Court’s order, the RSH Liquidating Trust will treat as a priority claim and will pay in full the balance on the cards of consumers holding gift cards purchased from RadioShack stores, the RadioShack website or any RadioShack authorized sellers (Safeway, Incomm or Point Mobl). Cards acquired in any other way such as merchandise returns and certain promotional gift cards that do not qualify as "priority" claims under applicable bankruptcy law will be paid as general unsecured claims, and will at most receive a small percentage of the balance on the card and may not receive any payment.
Purchasers whose email or postal addresses are part of RadioShack’s records will receive notice via email or post card with instruction on how to file a claim. In addition, an online ad campaign will notify consumers of the claims process.
Supporting Texas in the settlement agreement are: Arizona, Arkansas, District of Columbia, Florida, Georgia, Hawaii, Illinois, Indiana, Maine, Maryland, Massachusetts, Missouri, Nevada, New Hampshire, New York, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, Tennessee, Virginia, Washington and West Virginia.
The deadline for filing claims was December 2, 2016.