The Traderszone Network

Published in TZ Latest News 6 February, 2015 by The TZ Newswire Staff

RadioShack would accept liquidation bids: lawyer

RadioShack, which filed for Chapter 11 protection on Thursday, has a tentative deal to sell as many as 2,400 of its 4,100 stores to an affiliate of hedge fund Standard General, its lender and largest shareholder. RadioShack, which posted 11 straight quarterly losses after failing to transform itself into a destination for mobile phone buyers, hopes to avoid the fate that plagues many bankrupt retailers: liquidation. A court hearing on procedures for bidding on RadioShack’s assets is set for Feb. 20, with a final sale hearing tentatively scheduled for March 12.