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A source who has inside knowledge of the transaction, says that Radio Shack will sell leases on some of its stores to Sprint. The goal for the electronics retailer is to come out of bankruptcy a leaner company with a better chance of turning a profit. The company is expected to file for Chapter 11 as soon as the first week in February.
Under Chapter 11, the company remains in business, protected from creditors while working out a reorganization plan acceptable to the court. Debt holders would end up with paper worth pennies on the dollar, and stock holders could end up wiped out. The company ... *
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A source who has inside knowledge of the transaction, says that Radio Shack will sell leases on some of its stores to Sprint. The goal for the electronics retailer is to come out of bankruptcy a leaner company with a better chance of turning a profit. The company is expected to file for Chapter 11 as soon as the first week in February.Under Chapter 11, the company remains in business, protected from creditors while working out a reorganization plan acceptable to the court. Debt holders would end up with paper worth pennies on the dollar, and stock holders could end up wiped out. The company ... *
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via http://ift.tt/1yqCi0J
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