Report: RadioShack, creditors back Standard General bid

Fort Worth, Texas – RadioShack is reportedly asking a bankruptcy court to approve a roughly $160 million bod from Standard General LP that would keep 1,743 stores of the retailer’s roughly 4,000 stores open. According to the Wall Street Journal, the Standard General bid also the backing of the official committee of RadioShack’s unsecured creditors.



However, Salus Capital Partners, which clams it did not get a fair chance to make a bid during the RadioShack bankruptcy auction earlier this month, opposes approval of the Standard General bid and wants bidding reopened. Salus Capital also said the Standard General bid is risky because much of its financing is based on Standard General forgiving RadioShack for debt it is owed.