Although out of business, the former electronics store RadioShack will have dish out cash to some of its former customers.
The Texas Attorney General’s Office announced today consumers who had an unused balance on RadioShack gift cards will be able to file a claim. Radioshack’s payback 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.
To qualify for a priority claim, consumers had to purchase a gift card from RadioShack’s stores, website, or any of the retailer’s authorized seller. However, if the consumer acquired their gift card through a merchandise return or a certain promotional gift cards, it will not qualify as priority claim.
Instead it will be classified as a general unsecured claim and will at most receive a small percentage of the balance on the card, but no payment is also possible.
The deadline for filing claims is December 2, 2016. Consumers in all fifty states are eligible to file proofs of claim at www.oldradioshackgiftcards.com.