WSJ – Hedge fund Standard General LP is in talks to serve as the lead bidder at a bankruptcy auction for struggling consumer-electronics retailer RadioShack Corp. , according to people familiar with the matter.
RadioShack, which is running out of cash after reporting losses in each of the last 11 quarters, was aiming to file for Chapter 11 protection as early as Monday, the people said. But as of Sunday afternoon, the company and its advisers were still working out the details of an agreement with Standard General to serve as the so-called stalking horse at a court-supervised auction for RadioShack’s assets, some of the people said.
