Joint Venture Of Tiger, Hilco & Gordon Brothers Launches Additional Radio Shack Closures
–NEW YORK, N.Y. (4/2/15)— The joint venture of Tiger Capital Group, Hilco Merchant Resources and Gordon Brothers Group will begin the final phase of RadioShack store closings today at an additional 361 locations throughout the nation. Sales at these stores begin April 2, 2015.
This latest round follows the joint venture’s launch of liquidation sales at more than 1,700 company-owned Radio Shack stores resulting from a Chapter 11 Bankruptcy filing on February 5, 2015. These additional locations will be the final phase of selected closing sales as part of RadioShack’s reorganization plan. On April 1, 2015, a Delaware bankruptcy court approved a plan to reorganize RadioShack in a deal with Standard General and Sprint that will keep as many as 1,740 company-owned stores open throughout North America and preserve thousands of retail jobs.
A spokesperson for the joint venture said, “We have been engaged to manage this final round of RadioShack store closings as the company focuses on reinvigorating the remaining set of 1,740 company-owned stores under new ownership.”