What is the rack made of - aluminum or steel? It matters because aluminum loses strength when you bend it (no fatigue tolerance) but steel can generally be bent a bit more easily. It also depends, of course, on the nature of the bend - you don't want it to kink, which might introduce a new stress point for future failure. A slight deformity in a steel rack might well be correctable. For example, framebuilders sometimes "cold set" a steel frame after brazing or welding, to get it back into alignment (since uneven heat distribution on the joint can cause distortions). This basically involves just bending the thing so it's straight again! I'm not sure it would be so wise to try this with aluminum, though.
Neil