Fort Worth, Texas-based Tandy Corp says it will meet on July 22 with InterTan Inc representatives and its principal banks for talks on restructuring InterTan’s debts and renegotiating their distribution and licence agreements: on Friday, Tandy told InterTAN it was terminating the agreements and offered new licence agreements, which expire on July 22, unless they are extended and said the reinstatement of InterTan’s rights under the distribution agreement and granting of new licence agreements is contingent on negotiations with InterTan officials and principal banks of an agreement acceptable to Tandy; InterTan is the company spun off to shareholders by Tandy to own and operate all its international retail operations – if you see a Tandy store in the UK or Canada, well it’s really an InterTan store.
