Hedge Fund Monarch Said to End Talks on RadioShack Loan
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Monarch Alternative Capital LP abandoned negotiations to take over a $140 million loan to RadioShack Corp. as the electronics retailer struggled to reach a deal with lenders on a turnaround plan, according to two people with knowledge of the matter.
Monarch, run by Michael Weinstock, backed out talks it was leading with two other hedge funds to acquire the asset-backed senior loan and renegotiate the terms, said the people, who asked not to be named because the discussions were private. The company continues to talk with the other funds and with other potential lenders, one of the people said.