Boston — A group of 60 independent RadioShack franchised store owners have formed an ad hoc committee to represent their interests in the CE chain’s bankruptcy case.
The dealers are among the more than 900 U.S. franchisees that operate RadioShack-branded stores and carry varying amounts of RadioShack inventory.
The fate of these independent owners remains uncertain as the company’s assets go to auction next month.
“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,” said RadioShack franchisee Ira Brezinsky, who organized the group and chairs the ad hoc committee.
Of immediate concern are upcoming store sales and liquidations; the treatment of the dealer/franchise agreements and customer loyalty programs post-sale; and ongoing business operations, Brezinsky said.
The initial 60 participants represent more than 100 stores, he said, but urged all other franchisees to join the group in order to lower each member’s contribution to legal costs and to carry maximum clout in bankruptcy court.
The group is being represented by Boston-based Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. Lead council is Richard Mikels, who can be reached at firstname.lastname@example.org or (617) 348-1612.
Brezinsky can be reached at (413) 219-5577 or email@example.com.
In a February report in CNN Money, Brezinsky said his stores are doing well, as are those of other franchisees, and that while he’d prefer to see the RadioShack brand continue, he’s prepared to operate his shops under a different name.
The brand and some 2,000 corporate-owned stores are scheduled to be auctioned off on March 26.
Franchised RadioShack stores are often a curious blend of corporate inventory and signage and individualized assortments and store designs. Indeed, TWICE previously reported on a Minnesota franchisee who showcased 70 GE major appliances on his showroom floor, while a TWICE reporter observed record albums and drug paraphernalia for sale in one Jersey Shore location.