RadioShack real estate asset sale procedures OK’d; auction June 11

By Caroline Salls

Pittsburgh, May 21 – RadioShack Corp. received court approval of the bid procedures for the proposed sale of some of its real estate assets, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, DJM Realty Services, LLC and A&G Realty Partners will serve as real estate brokers.

The assets will be sold individually or in groups as guided by bidding, according to the motion.

The bid deadline will be due by 5 p.m. ET on June 8. If necessary, an auction for the assets will be on June 11 with a sale hearing to follow on June 16.

Any qualified bid must be accompanied by a cash deposit equal to 10% of the purchase price.

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

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