The Lawrence Eagle Tribune has reported that a bankruptcy filing by the shuttered Daddy’s Junky Music Store chain is imminent.
If a bankruptcy case is indeed filed, many of the stores former customers may be in a panic, not knowing how to deal with the filing. Many customers still have unused gift certificates, goods on layaway, or items left at the store for repair.
All of these are potentially affected by a bankruptcy filing. And the odds of getting money back really aren’t very good.
One Merrimack Valley resident was quoted in the article as saying “It’s going to be a nightmare trying to recoup my money.”
The process really isn’t that complicated. You need to get a one page claim form from the bankruptcy court, fill it out, and mail it back to the court. You may or may not get any money out of this, but at least you will be notified of important events in the case, and have your name on the list of creditors in the event there is a cash distribution.
If Daddy’s does file with the bankruptcy court, I will post more details here.
By Doug Beaton