RadioShack Corp's rescue deal to keep 1,740 stores open was attacked on Thursday by the bankrupt retailer's top creditor, a failed bidder who called the auction a sham and sought a new sale.
RadioShack Corp
Electronics retailer RadioShack Corp filed for U.S. bankruptcy protection on Thursday and said it had a deal in place to sell as many as 2,400 stores to an affiliate of hedge fund Standard General, its lender and largest shareholder.
Troubled electronics retailer RadioShack Corp is preparing to shut down the chain in a bankruptcy deal that would see half the stores taken over by Sprint Corp, Bloomberg News reported, citing people with knowledge of the discussions.
RadioShack Corp, expected to file for bankruptcy next month, is in talks to sell leases on some of its stores to telecoms operator Sprint Corp, Bloomberg said, citing a person with direct knowledge of the matter.
Cash-strapped electronics retailer RadioShack Corp has reached an agreement with a consortium led by its largest shareholder Standard General LP to refinance about $590 million of loans to re-stock ahead of the holiday season, Bloomberg reported, citing a person familiar with the matter.
RadioShack Corp (RSH.N) is evaluating a $585 million financing package led by UBS AG (UBSN.VX) and hedge fund Standard General LP as the U.S. electronics retailer tries to avert bankruptcy, the Wall Street Journal reported, citing people familiar with the matter.
RadioShack Corp received a five-year financing worth USD 835 million.
Subscribe to VCpost newsletter
Most Popular
- Doctors Raise Concerns Over Proposed Capital Gains Tax Changes
- SSDI Payment April 2024: Who Will Receive Social Security Benefits Today?
- Where's My Child Tax Credit 2024: When to Receive My Money After April 15 Tax Filing Deadline?
- Indiana Children's Museum Reportedly Exposed Total Solar Eclipse Watchers to Measles
- How to Get IRS Unclaimed Tax Refunds: Here's What to Do If You Think You Have Pending Payments
- Kroger and Albertsons to Sell off 166 Stores in Effort to Gain Approval for Their $25 Billion Merger
- Student Loan Forgiveness Processing for This Group of Borrowers Will Stop Next Week
- Philippines Wants US, Japan to Fund Freight Railway Project After It Drops Funding Talks With China