RadioShack authorized to sell two sets of assets for $5.69 million

By Kali Hays

New York, April 14 – RadioShack Corp. received approval of two asset sales to Regal Forest Holding Co. Ltd. and KPI Concepts Inc. totaling $5 million and $690,000 respectively, according to separate orders from the U.S. Bankruptcy Court for the District of Delaware.

Regal Forest purchased certain RadioShack trademarks and other intellectual property assets and several license and sale contracts related to its operations in Central America, South America, the Caribbean, the Bahamas and Cuba.

The KPI sale included RadioShack’s AntennaCraft facilities and related equipment located in West Burlington, Iowa, according to the purchase agreement.

Both sales also include the assumption of some liabilities.

The Regal Forest sale is expected to close by April 15 and the KPI sale by April 10.

RadioShack is a Fort Worth 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.