With electronics retailer RadioShack filing for bankruptcy protection recently – and its subsequent announcement that it plans to close stores in Rhode Island in the coming weeks – Attorney General Peter F. Kilmartin is advising consumers to use any gift cards, gift certificates or store credits as soon as possible.
"News reports have indicated that ten RadioShack stores in Rhode Island will close, and the remaining stores will most likely be sold off," said Attorney General Peter F. Kilmartin. "When a store goes bankrupt or closes, unfortunately there is little recourse for consumers left holding unused store credit or gift cards. I am advising any consumers with RadioShack store credit to use their unspent gift cards immediately – and, since RadioShack has stated that stores will only accept gift cards for the first 30 days after its bankruptcy filing, the clock is ticking for customers to use or lose the balance contained on RadioShack gift cards."
Customers seeking to use a gift card or return merchandise purchased prior to the bankruptcy filing should do so as soon as possible, as the company will only accept gift cards and returns through March 6, 2015. All merchandise sold during the store closing sales is sold as-is, although consumers have seven days to return goods with latent defects to the point of purchase.
RadioShack operates approximately 19 stores in Rhode Island. The company filed Chapter 11 bankruptcy petitions on February 7, 2015 and company has received approval to begin immediate store closing liquidation sales.
More information is available at http://radioshackcorporation.com/restructuring/ , including frequently asked questions for customers, which outline store closing information and warranty details. The website will be updated as more information is available.
About the Office of the Attorney General Consumer Protection Unit
The Office of the Attorney General Consumer Protection Unit investigates and mediates consumer complaints concerning unfair and unlawful business practices and misleading advertising arising out of alleged violations of the Deceptive Trade Practices Act. If groups of people are victimized by a deceptive trade practice, this office may file in the Superior Court a civil investigative demand, which is a formal investigation. In appropriate cases, a lawsuit to stop the illegal business practice may be initiated.
Apart from carrying out its statutory responsibilities, the Unit also provides information and referral services to the general public. Consumers are directed to the appropriate governmental or private agencies for help in answering specialized questions or resolving disputes that are not within the Unit's jurisdiction.
The Consumer Protection Unit is available to speak to community groups on how to prevent being a victim of identity theft and other scams. If you believe you are a victim of consumer fraud, please contact the Consumer Protection Unit by calling (401) 274-4400 or email at email@example.com.