Agreement allows for Radio Shack gift card refunds

CONCORD, N.H. - Attorney General Joseph A. Foster announced today that the Delaware Bankruptcy Court approved a plan of reorganization that incorporates a settlement with the former electronics retailer that will allow consumers to obtain a refund for the full value of unredeemed gift cards purchased from RadioShack or other merchants who sold RadioShack Gift Cards. The settlement applies to consumers nationwide and does not impose a minimum dollar threshold for consumer claims. This settlement was supported by 23 other states.

Under the approved settlement, New Hampshire consumers will have twelve (12) months after RadioShack's plan of liquidation becomes effective to file a simplified Proof of Claim form that will be available online or by mail if they prefer. The website for filing claims is: www.oldradioshackgiftcard.com.

Card purchasers whose email or postal addresses are part of RadioShack's records will receive notices by email or postcard with instruction on how to file a claim. In addition, an online ad campaign will notify consumers of the claims process.

A $500,000 escrow account will be established so that the first half million dollars' worth of priority unredeemed gift card claims will be paid promptly and will not be delayed in the bankruptcy process. In the event that priority gift card claims exceed that amount, additional funds will be provided by RadioShack.