RadioShack Dealer Group Forms to Participate in Bankruptcy Case

BOSTON--()--A group of independent RadioShack Dealer/Franchise store owners (the “Dealer Group”) has formed an ad hoc committee to represent the interests of the participating Dealers/Franchisees in RadioShack’s bankruptcy case. The Dealer Group invites all Dealer/Franchise store owners to join together and participate in the bankruptcy process that may impact Dealer/Franchise store owners’ ongoing business operations.

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 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.

“RadioShack has been an iconic American brand and it’s sad that it finds itself in bankruptcy. The Dealer Group will look out for the interests of its participants and hopes to be as helpful as possible and positively influence the bankruptcy proceedings to protect the interests of the relatively strong performing dealer/franchise stores,” says Brezinsky.

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. The ad hoc committee intends to communicate regularly with the Dealer Group and to be available to hear matters of interest to members of the Dealer Group. Given the size of the Dealer Group, the committee reserves the rights to make its own decisions, but the committee is very interested in hearing the views of Dealer Group members.

To participate in the ad hoc committee, contact Mr. Brezinsky by phone at (413) 219-5577 or by email at RadioShackDealerGroup@gmail.com.

The ad hoc committee has selected Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. as its counsel before the Bankruptcy Court, and, specifically, Richard E. Mikels and Adrienne Walker. Mr. Mikels’ phone number is (617) 348-1691 and his email address is rmikels@mintz.com. Ms. Walker’s phone number is (617) 348-1612 and her email address is awalker@mintz.com.

Contacts

RadioShack Dealer Group
Ira Brezinsky, 413-219-5577
RadioShackDealerGroup@gmail.com

Release Summary

A group of independent RadioShack Dealer/Franchise store owners (the Dealer Group) has formed an ad hoc committee to represent the interests of the participating Dealers/Franchisees in the bankruptcy.

Contacts

RadioShack Dealer Group
Ira Brezinsky, 413-219-5577
RadioShackDealerGroup@gmail.com