General Wireless Operations secures two-month exclusivity extension

By Caroline Salls

Pittsburgh, Aug. 16 – General Wireless Operations Inc., which does business as RadioShack, obtained an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Aug. 16 with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the company’s exclusive filing period was extended by 60 days through Sept. 5 from July 6 and the solicitation period through Nov. 4 from Sept. 5.

“Subject to the satisfactory resolution of plan discussions with certain key constituents, the debtors believe they can maximize the value of their remaining business and assets by promptly confirming a Chapter 11 plan of reorganization,” General Wireless said in the motion.

As a result, the company said it is in discussions with its second-lien lenders and official committee of unsecured creditors regarding the potential resolution of issues between those parties to facilitate a consensual Chapter 11 plan process.

“The debtors respectfully submit that exclusivity can and should be extended, especially where the debtor, as is the case here, has made, and is continuing to make, progress toward a plan,” the company said.

General Wireless is a Fort Worth-based operator of neighborhood electronics convenience stores. The company filed for bankruptcy on March 9. The Chapter 11 case number is 17-10506.

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