RadioShack committee wins approval to hire Houlihan Lokey as adviser

By Caroline Salls

Pittsburgh, May 13 – RadioShack Corp.’s official committee of unsecured creditors received court approval to hire Houlihan Lokey Capital, Inc. as its financial adviser and investment banker, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The hiring is retroactive to Feb. 13.

Houlihan Lokey will analyze company business plans and forecasts, evaluate RadioShack’s assets and debt, perform financial analysis, review the company’s employee benefit programs, analyze strategic alternatives, assist in the review of claims and in identifying potential sources of liquidity and represent the committee in negotiations.

The firm’s total cash compensation from monthly fees and payment of a deferred fee will not exceed $1.5 million, the motion said.

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

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