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Reuters: Salus Capital Complaint Urges Credit Bid Cap for RadioShack

March 19, 2015, 07:49 AM
Filed Under: Bankruptcy

Reuters reports that Salus Capital LLC filed an adversary complaint on Wed Mar. 18 in RadioShack Corp's Chapter 11 bankruptcy that seeks to hold credit bidding in the electronic retailer's upcoming auction to $111 million.

The Reuters report notes RadioShack won bankruptcy court approval last month to auction about 2,000 of its stores with an initial $200 million bid from Standard General hedge fund, which will keep about half of the stores open and operate them under an agreement with Sprint Corp.

RadioShack owes Salus, a middle-market lender and subsidiary of Harbinger Group Inc, and Cerberus Capital Management $250 million for a loan.

To view the entire Reuters story, click here.

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