New Delaware Chapter 11 Filing – General Wireless Operations Inc. dba RadioShack – Case No. 17-10506

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General Wireless Operations Inc. dba RadioShack, the purchaser of the RadioShack brand in its 2015 bankruptcy, and three affiliates, have filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (Lead Case No. 17-10506).  According to the First Day Declaration, the core RadioShack retail business became profitable again, but a partnership with Sprint Solutions, Inc. entered into as part of the going concern sale, did not succeed and has left the debtors with inadequate capital to continue as a going concern.  The debtors filed their cases to close additional underperforming stores and to pursue a sale or restructuring of the remaining assets.  The debtors have filed a motion regarding their continued use of cash collateral.  The cases have been assigned to The Honorable Brendan L. Shannon, who oversaw the earlier RadioShack bankruptcy proceeding.  The consolidated list of top 30 creditors can be obtained from the petitions.  Prime Clerk LLC is the proposed claims agent.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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