The Great RadioShack Bankruptcy Auction Standoff may be over. The 94-year-old electronics retailer declared bankruptcy in February, and then closed around half of its stores, selling their leases. The company wanted to rid itself of the rest of its stores before April began so they won’t have to pay April rent on all of those stores out of money that should be going to their creditors. [More]
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Salus Capital Claims Shenanigans In RadioShack Bankruptcy Auction
By 3.30.15
Last week, it seemed like the bankruptcy auction for what’s left of RadioShack would be pretty straightforward. Standard General, one of the chain’s biggest lenders, would put up a small amount of cash and a large amount of their own debt to take over about 1,700 stores. Another lender called shenanigans on the whole sale, offering a cash bid and claiming that it was superior. Now the auction enters week 2. [More]
Now There’s A Bidding War For The Smoldering Remains Of RadioShack
By 3.25.15
Since RadioShack finally declared bankruptcy last month, the assumption has been that Standard General, a hedge fund that has lent the Shack large amounts of money for its failed comeback attempt, would win the bankruptcy auction. They would buy 1,700 or so of the stores that are left, along with RadioShack’s brand. Now a different lender has joined the bidding, but claims that the auction favors Standard General. [More]
