Monarch Said to End Talks on RadioShack Loan
Bloomberg reported Monarch Alternative Capital abandoned negotiations to take over a $140 million loan to RadioShack, as the electronics retailer struggled to reach a deal with lenders on a turnaround plan, according to two people with knowledge of the matter.
Bloomberg sources also said Monarch, run by Michael Weinstock, backed out talks it was leading with two other hedge funds to acquire the asset-backed senior loan and renegotiate the terms.
Previously on abfjournal: RadioShack Lender Salus Seeking to Add Debt, October 31, 2014
To read the entire Bloomberg article, click here.