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