February 5, 2015 / 10:33 PM / 3 years ago

REFILE-RadioShack files for Chapter 11 bankruptcy protection

(Corrects date to Feb 5 from Sept 11)

Feb 5 (Reuters) - Electronics retailer RadioShack Corp filed for Chapter 11 bankruptcy protection and said shareholder Standard General LP would buy 1,500 to 2,400 of its stores.

RadioShack listed assets of $1.2 billion and liabilities of $1.39 billion in its bankruptcy petition in a Delaware court.

The company warned in September that it could file for bankruptcy protection if talks with lenders and stakeholders about a sale or a restructuring failed.

RadioShack’s top lenders include hedge fund Standard General LP, which is also its largest shareholder, and Salus Capital Partners.

Sprint Corp said it would set up co-branded stores in up to 1,750 of the stores acquired by Standard General’s General Wireless Inc.

The case is In Re: RadioShack Corp, Delaware Court, District of Delaware, Case No: 15-bk-10197. (Reporting by Ramkumar Iyer and Sruthi Ramakrishnan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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