According to a settlement reached and authorized by a federal bankruptcy judge in the Radio Shack bankruptcy case, holders of gift cards from the former retailer Radio Shack can now file claims seeking to recover the unused balance shown on those gift cards.
The claims process, now underway, is being conducted by Province, an independent professional claims agent approved by the bankruptcy court. Purchasers whose email or postal addresses are part of Radio Shack’s records will receive notice via email or post card with instructions on how to file a claim, and all holders of gift cards with a balance are eligible to file a claim.
Certain types of gift cards will be treated as priority claims and consumers holding priority cards will receive 100% of the balance on the card. Priority cards are those that were purchased from a RadioShack retail store, or from RadioShack’s website or from one of RadioShack’s authorized sellers.
Gift cards acquired through merchandise or warranty refunds or as promotional gift cards given away will not qualify as “priority” claims and may receive only a small percentage of the balance on their card, or they will not receive any money.
No one associated with the settlement will contact consumers to ask for personal or financial information or to request any payment. Consumers asked for such information or for payment should decline those requests and report the matter to their state’s attorney general.
This claims process is part of a settlement agreement which was approved two months ago in U.S. Bankruptcy Court in Wilmington, DE and was led by the State of Texas supported by 23 other states and the District of Columbia.