Bankrupt Former RadioShack To Pay Its Property Taxes

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As the company we once knew as RadioShack winds down its affairs, it’s taking care of some important pieces of business. Like paying its taxes. This week, the company negotiated to pay its property tax balances on its former properties in Texas.

When we say “RadioShack,” that could mean either of two companies. The company known as RadioShack for almost 100 years is now an estate (yes, dead companies have estates just like dead people do) called RS Legacy Corporation. One of that company’s creditors is now the owner of the RadioShack name and around half of the former company’s stores. In this case, we’re talking about the old RadioShack.

The company was based in Fort Worth in Tarrant County, and owed that county close to $1 million in taxes. “We were concerned that the company might get away without paying its property taxes for 2015, which would’ve been terribly unfair to the communities anticipating that revenue,” an attorney for a local tax collection firm explained to the Fort Worth Star-Telegram. The company’s properties in several states, including Texas, weren’t sold until several months into the bankruptcy, so the company still owed property taxes.

RadioShack to pay nearly $1 million in Tarrant property taxes [Fort Worth Star-Telegram]
RS Legacy Corporation fka
RadioShack Corporation (15-10197) [Prime Clerk]

by Laura Northrup via Consumerist