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Settlement would allow refund for RadioShack gift cards

A proposed settlement between RadioShack and the Pennsylvania Attorney General's Office would allow people with unused RadioShack gift cards to get a cash refund.

The electronics retailer filed for bankruptcy earlier this year, closing thousands of stores nationwide, including locations in Lehighton and Tamaqua.U.S. Bankruptcy Court must still approve the settlement.RadioShack operated stores at two locations in Tamaqua from 1978 until January.A store in Lehighton store closed shortly after.The 100 percent cash refund would be available to consumers across the country, regardless of how little is left on their RadioShack gift card. Their claims would be given priority status during the company's bankruptcy proceedings."We believe that this settlement is in the best interest of consumers," Attorney General Kathleen Kane said. "This would create a practical solution that would allow consumers who paid for these gift cards to fully recoup their money."If the settlement is approved by bankruptcy court, consumers with RadioShack gift cards would have 12 months to make their claim. An escrow account with $500,000 will be set up to pay out the claims.The Attorney General's office did not say the total value of the unused cards, but said that there would be more money available if the $500,000 runs out.Pennsylvania residents with questions about the settlement and RadioShack gift cards are encouraged to contact the Office of the Attorney General's Bureau of Consumer Protection, at 800-441-2555.