RadioShack Process Continues; Creditors Split
The RadioShack wishes to name Standard General the winner of its bankruptcy auction, with its unsecured creditors backing that result, the Wall Street Journal reported Thursday, citing court documents.
If Standard General emerges victorious, it will keep 1,743 RadioShack stores open, in a retail alliance with Sprint.
However, Salus Capital Partners, RadioShack's largest creditor, continues to fight the Standard General bid. According to Reuters, Salus claims it bid considerably more cash than did Standard General.