# Radio Shack Bankruptcy



## FourDiamond (Nov 23, 2011)

Does another else service a Radio Shack location? The bankruptcy filing of 2/5/2015 has left us with very little information other than according to the facilities coordinator " We need the location serviced until further notice." Well duh, I'm worried about getting paid for the service, not if they need it done. The outstanding invoices will have to go through the bankruptcy court, that's easy to know, but does anyone have any information about billing going forward?


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## Plowingsince10 (Oct 7, 2014)

Just a matter of time before they went on bankruptcy.... it was on the news for a few months..
hopefully you get fully paid..good luck!


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## SnoFarmer (Oct 15, 2004)

Now that they bounced off of the bottom,
I think version is going to pick them up and rebrand.


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## Mr.Markus (Jan 7, 2010)

There is a Target in my neck of the woods that looks better now that they announced they are pulling out of Canada, than it did before the announcement...someone must be slamming them with salt charges...


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## procut (Dec 1, 2004)

If it's a independently owned franchise you might get paid. If it's corporate owned invoices will have to go through bankruptcy court where you might get pennies on the dollar if you're lucky. I'd send them a letter cancelling. To much hassle / good chance of never getting paid.


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## grandview (Oct 9, 2005)

Depends if they are free standing stores. If they are in a strip plaza the landlord is responsible for plowing.


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## billythekid (Jan 31, 2014)

I give them credit for even lasting this long. As far as I can tell they have been obsolete for nearly a decade. I agree with them. Cancel if payment is in question.


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## FourDiamond (Nov 23, 2011)

grandview;1950524 said:


> Depends if they are free standing stores. If they are in a strip plaza the landlord is responsible for plowing.


Free standing, corporate owned store. Since the original post we were able to get some more info. All invoices up to and including Feb 5, 2015 will be handled through the bankruptcy trustee, and we will probably get a small percentage of the original bill. All invoices after that date will be paid by the trustee in full, if they continue with Chapter 11 filing. Since there is only about 8 weeks of winter left, this status probably won't change.


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## thelettuceman (Nov 23, 2010)

In bankruptcy all contracts are null and void. Stop plowing now. You will get pennies on a dollar for what you are owed. If they call, get cash and only cash ahead of time. No checks!!! No I.O.U.!!!


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## fireball (Jan 9, 2000)

In a bankruptcy, it is up to the bankruptcy trustee if a contract is null and void. When in doubt, call a lawyer. The bankruptcy trustee can actually back up the clock two years if they want. In other words they can make you return all your paid bills for the last two years. An example of this is what they are doing in the Bernie Madoff case. I would continue to service them but never spend more than 10 minutes doing it. Nobody said it had to be perfect.

My personal experience is that once they declare Bankruptcy, the trustees pay all invoices 100% from the day they declare. If they have past due before declaring, prepare yourself for disappointment. The people who show up in court for the hearing's, asking lots of questions, and complaining tend to get paid because they slow the lawyers down considerable. Spend a couple days in federal bankruptcy court, you will see why lawyers are driving BMW's and you are driving a 10 year old truck. It is legalized looting for lawyers


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## thelettuceman (Nov 23, 2010)

fireball: good info just above this


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## Defcon 5 (Mar 20, 2014)

fireball;1950851 said:


> In a bankruptcy, it is up to the bankruptcy trustee if a contract is null and void. When in doubt, call a lawyer. The bankruptcy trustee can actually back up the clock two years if they want. In other words they can make you return all your paid bills for the last two years. An example of this is what they are doing in the Bernie Madoff case. I would continue to service them but never spend more than 10 minutes doing it. Nobody said it had to be perfect.
> 
> My personal experience is that once they declare Bankruptcy, the trustees pay all invoices 100% from the day they declare. If they have past due before declaring, prepare yourself for disappointment. The people who show up in court for the hearing's, asking lots of questions, and complaining tend to get paid because they slow the lawyers down considerable. Spend a couple days in federal bankruptcy court, you will see why lawyers are driving BMW's and you are driving a 10 year old truck. It is legalized looting for lawyers


 In the Madoff case the trustees are going after the Profits made on the investments made with Madoff.....


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## Defcon 5 (Mar 20, 2014)

Do you do this store through a NSP or direct???


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## FourDiamond (Nov 23, 2011)

Defcon 5;1951128 said:


> Do you do this store through a NSP or direct???


It's a direct customer. Fireball is correct, at this point its up to the bankruptcy trustee to determine if the contract remains in effect or not. So as per our lawyer we will continue to service the account until the trustee tells us not to. Based on how slow the system works, that determination will come long after the end of the season. One bright spot, if there is one, this location is to remain open as a re-branded Sprint/ something else location. So we may be able to retain the location.


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## fireside (Mar 1, 2008)

Here is what happened to me in an bankrupt case you can make your own decision. All invoices that occurred prior to the filing I was paid 13 cents on the dollar. After the filing for the two storms I plowed I was paid 29 cents on the dollar based on some sliding national scale. That took 3 years to get paid. I had wrote off the money into a check showed up in the mail. I would strongly suggest your right to cancel services. You are a very small fish in the court action


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## pressedun (Jul 26, 2010)

Absolutely cancel service immediately, you'll lose yourshirt on every single service you do. Getting 10-30 percent of your total invoices probably won't cover your labor, gas and salt.


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## fireball (Jan 9, 2000)

surprise.suprise. The trustee for Bernie Madoff announced that everyone that had a account with Bernie under 973,000.00 would be fully reimbursed. Everyone else would be paid at 50% so far


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## thelettuceman (Nov 23, 2010)

fireball;1956691 said:


> surprise.suprise. The trustee for Bernie Madoff announced that everyone that had a account with Bernie under 973,000.00 would be fully reimbursed. Everyone else would be paid at 50% so far


I am sending a snow plow bill for $972,999.99


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## leigh (Jan 2, 2009)

Years ago I got stiffed out a few thousand when Franks Nurserys went under.But after the trustee took over I was paid at that point forward as was required by bankruptcy ruling.I upped my pricing and was able to recoup some of the money owed.It turned a bad situation into a slight loser.Might work out for you.payup


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## Ramairfreak98ss (Aug 17, 2005)

once bankruptcy is filed, and creditors notified "whomever hired you", you can NO LONGER make efforts to collect on said services.

I don't know exactly if services performed AFTER the date of bankruptcy can be discharged too "i assume not", but everything done prior, can be wiped out technically... that means you'll see little to nothing from prior services unless RAdio shack has already paid the company between you and them, even if thats the case, you risk the unethical companies in between that may sit on those funds and claim they didn't receive them and simply elect NOT to pay you anyway. 

Sucks, i know years ago Rite aid was close to this and guys were worried over the winter what happens if....


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## Ramairfreak98ss (Aug 17, 2005)

pressedun;1956441 said:


> Absolutely cancel service immediately, you'll lose yourshirt on every single service you do. Getting 10-30 percent of your total invoices probably won't cover your labor, gas and salt.


I agree, no chance you'll make out positive on this.


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