RadioShack was approved for the last major transactions for its bankruptcy cases , finalizing the real estate sales of more than $50 million.
Judge Brendan Shannon ruled he would sign off on the deals for the real estate sales in Texas, California and Maryland. B.H. Management Inc. bought the Texas and California locations for more than $39 million, and K Realty Management LLP bought the Maryland property for $11.4 million, according to court documents.
The former RadioShack filed for bankruptcy in February, selling or shutting down all its store chains. RadioShack filed a plan for a creditor-payback by court order. In the process of selling out the chain stores, shelve items have been liquidated to pay down debt during the bankruptcy.
The sales of property in Texas, California and Maryland are attempts in assisting to raise money for creditors, including sale of businesses, trademarks and other intellectual properties.
Sources:
http://www.wsj.com/articles/former-radioshack-real-estate-sold-for-more-than-50-million-1434576662
