RadioShack asks for 30 more days’ exclusivity; filing plan this week

By Kali Hays

New York, June 8 – RadioShack Corp. asked the U.S. Bankruptcy Court for the District of Delaware for a one-month extension of its Chapter 11 plan filing and solicitation periods, according to a Friday motion.

The company asked that its plan filing period be extended to July 6 from June 5 and its solicitation period to Sept. 4 from Aug. 4.

RadioShack said that it is finalizing the terms of a Chapter 11 plan and expects to file the plan and related disclosure statement this week, according to the motion.

The company is prepared to file a plan “well within this additional short extension,” and RadioShack said that approval of the extension will “ensure that the process moves forward in an orderly fashion.”

As previously reported, the company’s secured lender, Salus Capital Partners, LLC, asked the court on June 2 to convert RadioShack’s case to Chapter 7, claiming that there was no advantage to the company remaining in Chapter 11 and that the estate is “likely administratively insolvent.”

A hearing is set for June 25.

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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