RadioShack gets OK to sell three leases with offers totaling $124,508

By Kali Hays

New York, March 27 – RadioShack Corp. received approval to sell thee leases for a total purchase price of $124,508 under two March 27 orders from the U.S. Bankruptcy Court for the District of Delaware.

Specifically, ATAX Corp. purchased one lease for $48,922 and an AT&T affiliate, New Cingular Wireless PCS, LLC purchased two leases for a price totaling $75,586.

As previously reported, New Cingular will use the locations for its own retail purposes.

RadioShack cancelled a second auction round for the leases on March 25 after it failed to receive multiple bids.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.