The Daily Docket: RadioShack Warns of Bankruptcy

RadioShack Corp. is in talks to shore up its finances but is warning it could be forced to file for bankruptcy protection if the talks don’t work out, The Wall Street Journal reports.

As Atlantic City, N.J., continues to reel from a string of casino closures and bankruptcies, several investors are circling the closed Revel Casino Hotel, including a Florida developer who has made a $90 million bid. WSJ has the Daily Bankruptcy Review article here.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit our homepage, scroll to the bottom and click “try for free.”)

Detroit’s bankruptcy trial was put on hold until Monday after the city reached a tentative deal with bondholder Syncora, WSJ reports.

A congressional committee approved a bill to amend the Bankruptcy Code that will help smooth big banks’ paths through bankruptcy, WSJ reports.

There’s a “significant possibility” Trump Entertainment Resorts Inc. will be forced to close both its casinos and shut down its Atlantic City Boardwalk gambling enterprise in bankruptcy, company lawyer Kristopher Hansen told a judge Wednesday. Read the DBR article via WSJ.

Cooperative food distributor Associated Wholesalers Inc. won bankruptcy-court approval Wednesday to try to sell itself by the end of October. Read the DBR article in WSJ.

A bankruptcy judge signed off on a deal to allow the developer of the Chicago Spire to shop around for investors who might be willing to challenge one proposal to take the stalled project out of Chapter 11, DBR reports via WSJ.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa.