- Title: RADIOSHACK-BANKRUPTCY RadioShack files for Chapter 11 bankruptcy protection
- Date: 5th February 2015
- Summary: LOS ANGELES, CALIFORNIA, UNITED STATES (FILE) (REUTERS) VARIOUS OF RADIOSHACK STORE VARIOUS OF RADIOSHACK SIGNAGE WOMAN EXITING STORE VARIOUS OF STORE WINDOWS RADIOSHACK SIGNAGE RADIOSHACK STORE
- Embargoed: 20th February 2015 12:00
- Keywords:
- Topics: General
- Reuters ID: LVA4I3R115VND22RD563PFCKF3S7
- Story Text: Electronics retailer RadioShack Corp filed for Chapter 11 bankruptcy protection Thursday (February 5) and said shareholder Standard General LP would buy 1,500 to 2,400 of its stores.
RadioShack listed assets of $1.2 billion and liabilities of $1.39 billion in its bankruptcy petition in a Delaware court.
The company warned in September that it could file for bankruptcy protection if talks with lenders and stakeholders about a sale or a restructuring failed.
RadioShack's top lenders include hedge fund Standard General LP, which is also its largest shareholder, and Salus Capital Partners.
Sprint Corp said it would set up co-branded stores in up to 1,750 of the stores acquired by Standard General's General Wireless Inc.
The case is In Re: RadioShack Corp, Delaware Court, District of Delaware, Case No: 15-bk-10197. - Copyright Holder: FILE REUTERS (CAN SELL)
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