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RadioShack cash collateral use extended to July 25 with stipulation
By Kali Hays
New York, June 29 – RadioShack Corp. received extended access to the cash collateral of its lender Salus Capital Partners, LLC to July 25 under an amended stipulation approved on Friday by the U.S. Bankruptcy Court for the District of Delaware.
Without the extension, the company’s cash collateral use was set to expire on June 27.
RadioShack will make an additional cash payment of $10 million to Salus by June 30 as part of the agreement.
As previously reported, RadioShack received final approval on March 6 of a $285.33 million debtor-in-possession facility and of the use of cash collateral.
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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