The music finally stopped at RadioShack late Thursday, as the 94-year-old consumer electronics retailer began bankruptcy proceedings in Delaware, listing $1.2 billion in assets against nearly $1.39 billion in liabilities. The Fort Worth-based company has turned to Jones Day, a frequent legal adviser to RadioShack over the years, to handle its Chapter 11 case.
David Heiman, the Cleveland-based founder of Jones Day’s restructuring group and a lead lawyer for the city of Detroit in its recently concluded bankruptcy proceedings, and global M&A chair and veteran dealmaker Robert Profusek are part of a team from the firm representing RadioShack. Other Jones Day lawyers counseling the debtor include bankruptcy partners Gregory Gordon and Thomas Howley, corporate partners James O’Bannon, John Kane and Mark Betzen, finance partner John Mazey and associates Jonathan Fisher, Paul Green and Amanda Suzuki.
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