The bankruptcy would deal another blow to the Radio Shack brand, an almost-century-old source of electronics that struggled to compete with online merchants and big-box retailers. Standard General, an investment firm that previously backed American Apparel, didn't have an immediate comment.The General Wireless venture was designed to help the Radio Shack name live on following the demise of the original chain. The company closed about half of its 4,000 stores and sold 1,700 to creditor Standard General LP, which teamed up with Sprint to form General Wireless. When the venture was rolled out in 2015, Chief Executive Officer Ron Garriques said he had "ambitious plans for the new Radio Shack." The business renovated locations and updated inventory.Claims presented against KYHC will be reviewed by the Liquidator in accordance with KRS 304.33.Notices of the Liquidator’s determination on claims presented against KYHC will be given to claimants or their specified counsel., the number of outstanding shares will increase while the stock's price will decrease; the overall market value of the position will remain the same.
Similarly, when a corporation executes a reverse stock split If you own 10 shares of XYZ valued at each, and XYZ executes a 1 for 10 () reverse stock split, you will now own 1 share worth 0.The Liquidator and his Special Deputies are authorized to deal with the property, business and affairs of KYHC for the benefit of KYHC’s policyholders and creditors, and to take any and all necessary actions to effectuate an orderly and timely liquidation.This notice is being sent to all individuals, partnerships, corporations, associations, estates, trusts, governmental bodies or other entities which KYHC’s books and records reveal may have either claims (contingent or otherwise) against KYHC or property or assets of KYHC.A filing could happen within the coming days and will probably result in liquidation, said the people, who asked not to be identified because the process isn't public.The beleaguered company, which does business as Radio Shack, operates outlets that share space with Sprint's retail locations, as well as franchising the name to other stores.