RadioShack granted interim OK of closing sales; final hearing Feb. 20

By Caroline Salls

Pittsburgh, Feb. 9 – RadioShack Corp. obtained an interim court order allowing it to assume a consulting agreement and conduct store-closing sales, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, RadioShack began store-closing sales at more than 1,700 of its locations in the United States on Friday.

The company entered an agreement under which joint venture with Hilco Merchant Resources, Gordon Brothers Group and Tiger Capital Group will manage the store-closing process.

Monday’s interim order authorizes the closing sales to be conducted through the Feb. 20 final hearing date.

RadioShack’s bankruptcy filing calls for the sale of between 1,500 and 2,400 of its company-owned stores in the United States to General Wireless Inc., while its 4,000 remaining stores will be closed.

RadioShack is a Fort Worth, Texas technology retailer that filed for bankruptcy Feb. 5. Its Chapter 11 case number is 15-10197.

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