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Claims process begins for RadioShack gift cards

More than 1,740 RadioShack stores were sold out of bankruptcy to the Standard General hedge fund.
More than 1,740 RadioShack stores were sold out of bankruptcy to the Standard General hedge fund. AP

Consumers holding RadioShack gift cards can now file claims to recover the unused balance from the bankrupt retailer, the company handling the refunds announced this week.

The claims process is part of a settlement reached in U.S. Bankruptcy Court two months ago after Texas Attorney General Ken Paxton and colleagues from 23 other states asked the bankruptcy judge to force the company to set up a process for iconsumers to recover their balances.

According to the press release:

Purchasers whose email or postal addresses are part of RadioShack’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. In addition, social media ads are directing consumers to oldradioshackgiftcards.com, where filing a claim instructions are posted.

Consumers holding gift cards do not need to know the balance on their card in order to file a claim but will need to provide reasonable evidence that they have the card, such as a copy of the card or the original gift card.

Certain types of gift cards will be treated as priority claims and consumers holding priority cards will receive one-hundred-percent 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: Safeway, Incomm or Point Mobl. 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.

Paxton estimated that 2.9 million customers hold unredeemed cards worth about $46 million. After filing for bankruptcy, the company said the cards would expire on March 31. RadioShack closed more than half its stores and sold more than 1,700 locations to the Standard General hedge fund, which continues to operate them.

The company said claims should be filed electronically at oldradioshackgiftcards.com, or mailed to RS Legacy Corporation fka RadioShack Corporation, Claims Processing Center, c/o Prime Clerk LLC, PO Box 225392, New York, NY 10150.

The deadline for filing claims is Dec. 2, 2016.

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