Thursday, March 5, 2015

"RadioShack’s Bankruptcy Could Take a Toll on Junior Creditors"


"Cash coming in from liquidation of nearly 2,000 stores, and the planned auction of the rest, may fall short of the roughly $500 million RadioShack needs to cover its secured loans. Salus, which will be the last lender paid, could see some losses, according to discussions in the U.S. Bankruptcy Court in Wilmington, Del.

The news isn’t good for unsecured creditors, who are also owed about $500 million."
The unsecured notes were 9 cent bid this morning.

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