The bankruptcy court overseeing the Chapter 11 proceedings of RadioShack has approved the sale of 1,723 of the company’s stores to General Wireless, an affiliate of Standard General, according to a report from Bloomberg News.
As reported, in October 2014 Standard General, along with certain other investors, acquired the company’s then outstanding credit agreement loans under a $535 million asset-backed revolver from GE Capital pursuant to a loan sale agreement. Among other things, that transaction converted $275 million of the outstanding debt into a term loan.
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