Advertisement

RadioShack Committee Formed

Advertisement

In a press release, RadioShack Dealer Group announced formation of an ad hoc committee to represent the interests of the participating dealers/franchisees in RadioShack’s bankruptcy case and inviting all dealer/franchise store owners to join together and participate in the bankruptcy process. The ad hoc committee will be looking into issues of material interest to the Dealer Group participants as a whole, including the upcoming store sales or liquidations, treatment of dealer/franchise agreements, treatment of customer loyalty programs after sale transaction and ongoing business operations.

The announcement states, “The Dealer Group is quickly growing and already includes nearly 60 individuals representing more than 100 stores. Ira Brezinsky, who is chair of the ad hoc committee and also a RadioShack franchisee, encourages all owners of the more than 900 dealer/franchise stores in the United States to join the Dealer Group and participate in the process….Participation by as many of the more than 900 independent dealers/franchisees in the Dealer Group is essential to representing the interests of the group in the Bankruptcy Court. Significant participation by dealers/franchisees will enable participating dealers/franchisees to share the cost of the ad hoc committee (primarily counsel) at a relatively small amount allocated to each Dealer/Franchisee.”

Read more about this most recent iconic retail bankruptcy in a free Chapter 11 case summary report.