DW Investment help RadioShack stave off bankruptcy -Bloomberg

Fri Nov 7, 2014 7:32pm EST

Nov 7 (Reuters) - RadioShack Corp was helped by David Warren's DW Investment Management LP from going bankrupt, as the hedge fund bought the biggest piece of the struggling electronics retailer's loan, Bloomberg reported on Friday citing people familiar with the matter.

RadioShack had earlier said that it may need to file for bankruptcy protection if its cash situation worsens. The company said it was also exploring other options, including a sale or an investment, and liquidation as the last resort.

The hedge fund, DW Investment Management LP, which advises Brevan Howard Asset Management LLP on credit investments, owns at least $100 million of the $325 million first-lien loan arranged last month by RadioShack's biggest shareholder, according to the report. (bloom.bg/1pxVCZd)

Standard General LP, which lined up the loan as part of a $585 million financing package, sold the rest of the first-lien loan to other hedge funds, Bloomberg reported citing people familiar with the matter.

RadioShack was not immediately available for comment. (Reporting by Rosmi Shaji in Bangalore)

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