Poynt Files for Bankruptcy
Poynt Corporation today filed for bankruptcy and insolvency protection with the Court of Queen's Bench of Alberta, Canada. In a statement posted to its web site, Poynt explained, "The Company is not currently in a position to meet the obligations owing to its secured and unsecured creditors and as such, has taken this action under the BIA as the most expeditious and economical manner of addressing the interests of its creditors and allowing it to carry on its operations." Poynt will seek ways to reimburse its creditors while under bankruptcy protection. Poynt provided location-based smartphone applications to devices running the Android, iOS, Windows Phone, and BlackBerry platforms.
Apple, AT&T Seek to Block RadioShack's Sale of Customer Data
Apple and AT&T have filed legal objections to RadioShack's planned sale of customer data. RadioShack sold products from both AT&T and Apple and originally agreed to keep customer data private.
RadioShack Declares Bankruptcy, to Sell Stores to Sprint
RadioShack today filed for Chapter 11 bankruptcy protection and signed an agreement to sell approximately 1,750 of its stores to Sprint. Under the terms of RadioShack's Chapter 11 filing, RadioShack will sell the stores to Sprint and General Wireless, a subsidiary of one of RadioShack's major investors.
Sprint May Scoop Up Half of RadioShack's Stores
RadioShack and its creditors might sell half the company's stores to Sprint and close the remaining locations, reports Bloomberg. Sources familiar with the companies' plans suggest Sprint would rebrand the RadioShack stores, which would cease to exist as stand-alone electronics stores.
Judge Approves Sale of RadioShack Stores
A U.S. judge has given RadioShack permission to sell its 1,740 stores to Standard General, a hedge fund that plans to operate the stores with Sprint.
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