WILMINGTON, Del. (AP) — A Delaware bankruptcy judge said Wednesday that he will give final approval to the reorganization plan of electronics retailer RadioShack.
Texas-based RadioShack, founded in Boston in 1921, sought bankruptcy protection in February, having struggled for years and unable to turn a profit since 2011.
The reorganization plan is centered around acquisition of more than 1,740 RadioShack stores by General Wireless, an affiliate of hedge fund Standard General, which also bought RadioShack’s intellectual property, including trademarks and customer data.