Salus May Have Played Role in ‘Triggering’ RadioShack Bankruptcy
According to a Bloomberg report, what is lost in the tale of the inevitable decline and failure of RadioShack is how distressed lender Salus Capital Partners may have “helped sink the 94-year old retailer into bankruptcy.”
Bloomberg said that Salus Capital’s refusal to allow RadioShack to shutter stores to avert bankruptcy, “proved key in triggering last week’s Chapter 11 filing.”
Bloomberg characterized the relationship between RadioShack and Salus as one, “that went so wrong, so quickly that at times it bordered on dysfunctional, highlighting in the process the vicissitudes that often plague troubled companies searching for emergency financing.”
To read the entire Bloomberg article, click here.