Court Approves Chapter 11 for RadioShack

Cooley advised the unsecured creditors' committee in the bankruptcy proceedings of RadioShack, a 90-year-old chain of wireless and electronics stores. On September 30, 2015, the Bankruptcy Court for the District of Delaware approved the company's Chapter 11 plan. According to the Wall Street Journal, under the Chapter 11 plan, the corporate remains of what was once RadioShack will pay most secured lenders in full. Approximately 1,700 of RadioShack's 4,400 retail locations were sold to a company that continues to operate those stores, some in conjunction with Sprint. The plan became effective on October 8, 2015, and the Cooley team continues as counsel to the post-bankruptcy liquidating trust.

Related Contacts
Jay Indyke Partner, New York
Cathy Hershcopf Partner, New York
Richard Kanowitz Partner, New York
Seth Van Aalten Partner, New York