RadioShack Warns Stock Holders Not To Expect Any Recovery In Bankruptcy Proceedings

RadioShack Corp. reiterated its belief that there will be no recovery for any holders of its common stock in its pending bankruptcy proceedings. The failed consumer electronics retailer made its statement in light of the trading volume its its stock, which closed Thursday at 18 cents, on volume of 1.08 million shares. It had closed as high as 21 cents earlier this week. "Equity holders of a company in Chapter 11 bankruptcy generally receive value only if all claims of a company's secured and unsecured creditors are fully satisfied. RadioShack said it believes that the claims of its secured and unsecured creditors will not be fully satisfied, leading to the conclusion that RadioShack common stock has no value," the company said in a statement. The company filed for bankruptcy on Feb. 5.