RadioShack still says that they can’t identify the purchasers or the holders of the estimated $46 million worth of gift cards that are still out there for the chain. While there are still RadioShack stores, those are owned by a different company and won’t accept the old gift cards. The Attorney General of Texas, Ken Paxton, wants to make sure that gift card holders know that the Shack owes them money. [More]
Search results for: "The Shack"
Texas Attorney General Says RadioShack Knowingly Sold Gift Cards That Would Soon Expire
By 7.30.15
If the leadership of a company knows that they’re about to file for bankruptcy, should they stop selling gift cards? That’s what the Attorney General in Texas contends: that RadioShack knew after the 2014 holiday season ended that it would be declaring bankruptcy soon, and that gift cards they had issued would lose their value at the time of the bankruptcy or shortly afterward. Yet they sold ’em anyway. [More]
RadioShack Seeks Relevance Through Wu-Tang Clan Affiliation, YouTube Dance Party
By 7.8.15
RadioShack is in the middle of a bold retail experiment: is it possible to acquire a venerable brand with a deteriorated reputation through bankruptcy and rehabilitate it into a place where people actually want to shop? The Shack’s new owners are harnessing the power of song and dance to try this…well, and also portable speakers. And rap. [More]
There’s Still $43 Million In Outstanding RadioShack Gift Cards, And Texas Wants To Rescue It
By 6.19.15
When a retailer looks like it might be in danger of going out of business, we warn gift card holders to use their cards soon, before the company declares bankruptcy and the cards lose their value. Not everyone has the good sense to read Consumerist, though, and that’s why the Texas Attorney General wants the smoldering remains of RadioShack to put aside some money for gift card holders. [More]
RadioShack Will Not Be Selling Your Phone Number To New Owners
By 5.20.15
If you’re part of the 117 million or so names on RadioShack’s mailing list, we have good and bad news for you. Today, the Shack and various states’ attorneys general came to an agreement about what customer data may be sold to RadioShack’s new owners, and under what circumstances. Everyone has agreed that the Shack won’t be handing over customer phone numbers, but they also will be giving people on the mailing list only a week to opt out. [More]
The RadioShack Bankruptcy Consumer Privacy Report Is Out
By 5.18.15
The most controversial part of the RadioShack bankruptcy auction has been the proposed sale of the company’s extensive collection of e-mail addresses, phone numbers, and mailing addresses. Everyone from Apple to most states’ attorneys general objects to this sale, which goes against the company’s privacy policy. That’s why the bankruptcy court appointed a privacy ombudsman to evaluate the situation and lay out some rules for how that information will be passed to the new owners of the RadioShack brand…or not. [More]
Well, Someone Bid $15 Million For What’s Left Of RadioShack
By 5.12.15
The controversial sale of RadioShack’s intellectual property continues: an attorney who represents the chain’s network of franchisees and dealers says that the current high bidder is the most logical buyer for the name and intellectual property: the same affiliate of hedge fund Standard General that purchased fewer than half of RadioShack’s stores and is running them in partnership with mobile carrier Sprint. Update: The final bid was $26.2 million. [More]
RadioShack Bankruptcy Math: The Better-Known Your Company Is, The Less Its Name Is Worth
By 5.5.15
Bids are due tomorrow in the auction for RadioShack’s intellectual property. Consumerist has ultimately decided not to offer twenty bucks for TheShack.com, but we’re still following the auction with interest. Mostly, we’re wondering who is interested in the big prize: the right to call oneself “RadioShack.” [More]
RadioShack Agrees To Mediation After Auction Of Customer Mailing Lists
By 4.28.15
In bankruptcy court this morning in Delaware, there was a hearing regarding RadioShack’s plan to offer tens of millions of pieces of customer data in its bankruptcy auction. The attorney general of the Shack’s home state of Texas objected to this sale, mostly because the company’s original privacy policy didn’t allow the company to sell customer data to just anyone. Now RadioShack has agreed to mediation after its intellectual property, including those mailing lists, is auctioned on May 11. [More]
RadioShack Consumer Data Might Be Back Up For Auction
By 4.14.15
When the venerable electronics retailer RadioShack declared bankruptcy earlier this year and prepared to sell off its assets and its business, they quietly announced one item that was legally problematic but potentially lucrative: tens of millions of pieces of customer contact information that it has collected over the years. After the Attorney General of Texas objected to such a sale, the court was told that selling that information was off the table. Now it could be back on. [More]
RadioShack’s New Owners Don’t Really Care About Buying The RadioShack Name
By 4.13.15
RadioShack still exists. Well, stores that say “RadioShack” on them still exist, but those are a joint venture between the Shack’s new owners and Sprint. While the stores have kept their doors open, there’s one thing missing from the business plan: this new venture doesn’t own the RadioShack trademark yet. They aren’t too worried about it, though. [More]
Good News: RadioShack Says Consumer Information Isn’t Part Of Bankruptcy Auction
By 3.27.15
Earlier this week, we reported that the one of the assets of the former RadioShack empire up for sale is the tens of millions of names, mailing addresses, phone numbers, and e-mail addresses that the retailer has collected from its customers. Many states’ attorneys general objected to this possible sale, noting that it may violate Texas law and the company’s own privacy policies. Fortunately, that consumer data is not yet for sale. [More]
Now There’s A Bidding War For The Smoldering Remains Of RadioShack
By 3.25.15
Since RadioShack finally declared bankruptcy last month, the assumption has been that Standard General, a hedge fund that has lent the Shack large amounts of money for its failed comeback attempt, would win the bankruptcy auction. They would buy 1,700 or so of the stores that are left, along with RadioShack’s brand. Now a different lender has joined the bidding, but claims that the auction favors Standard General. [More]
Your Personal Data Could Be For Sale In RadioShack Bankruptcy Auction
By 3.24.15
Have you handed your name, address, e-mail address, or phone number over to RadioShack as part of a purchase or, inexplicably, when you returned an item that you bought with cash? As the bankruptcy auction of the smoldering remains of The Shack continues into its second day, we’ve learned that one of the assets for sale is RadioShack’s customer list, which includes more than 65 million mailing addresses and more than 13 million e-mail addresses. Update: The bankruptcy auction’s privacy ombudsman says that customer information isn’t for sale. Yet. [More]
AT&T Asked RadioShack To Destroy Customer And Proprietary Information
By 3.23.15
The auction for the smoldering remains of RadioShack is happening right now at the offices of the company’s attorneys in New York City, and something caught our attention while we wait for news about the winning bidders and future of the Shack and its stores and employees. AT&T has filed an objection to the proceedings in court, asking RadioShack to destroy any sensitive information about customers and AT&T itself. [More]
RadioShack Selling Name Separately From Stores: Bids Start At $20 Million
By 2.25.15
In a bankruptcy auction, creditors want to extract as much money as they can from the company’s remaining assets that have any value. Recognizing that “Radio Shack” is a brand that people at least recognize, the company’s lawyers announced today in court that its name and intellectual property will sell separately from the store leases. [More]
Sale Of 1,100 Radio Shack Leases Approved
By 2.20.15
Hey, buddy. Want to rent an abandoned Radio Shack? The quasi-relevant electronics chain received approval from the bankruptcy court today to sell off 1,100 store leases. These stores are open for bidding by anyone interested in taking over the lease––in some locations, Radio Shack has already held store-closing sales and taken off so they won’t have to pay rent in March. [More]
RadioShack Creditors Question Bankruptcy Timing
By 2.18.15
Experts and ordinary shoppers alike have been predicting the demise of RadioShack for some time now. The only question was when it would happen. A rescue financing package kept the company going for a while longer, but the company’s creditors allege that there was a very important reason for that: to line the pockets of lenders and distressed debt traders. [More]
