RadioShack Customers to Receive Reimbursement of Gift Cards

by San Antonio Attorney

RadioShack will commence the process of reimbursing gift cards to customers after filing for bankruptcy.

Clinton A. Krislov, the legal attorney from Krislov &Associates, representing the concerned group of gift card holders, stated that customers can make their claim in the bankruptcy. A purchased gift card will be rewarded with full compensation.

Krislov added that the merchandise credits can be still used at any remaining stores at 50 cents per dollar.  The legal attorney has a previous background of handling reimbursement of cards such as the case of Sharper Image.

The claiming of gift cards was part of a previous bankruptcy settlement agreement approved in the U.S. Bankruptcy Court in Delaware last September 2015.

Texas was the leading state that participated in the settlement process, which was followed by Washington DC and 23 other states in the United States of America.

Attorney General Ken Paxton said in a press release that the implementation of these measures further confirms that the consumer’s right are being fulfilled and the company is standing by its commitment to its consumers who have purchased gift cards that will total to millions.

Paxton added that in any bankruptcy proceeding, it is highly important that the interests of consumers will be greatly considered and represented as well. The customers will be given a chance to file and redeem claims.

Priority claims cover the consumer’s unused gift card claims that were purchased online, at a store or through an authorized dealer. These consumers will receive a full refund from the RSH Liquidating Trust.

The claims that will not be covered are purchases made through third party sellers, merchandise returns, store promotions. These will not qualify as priority claims and financial compensation will not be rendered.

The claims have to be filed by December 2, 2016 to be included in the reimbursement.

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