RadioShack Corporation and 17 of its affiliates have filed its chapter 11 case in Delaware.  The case is docketed as Case No. 15-10197, and is currently assigned to The Honorable Kevin J. Carey.

The long-anticipated petition includes a list of the 50 largest creditors.  Wilmington Trust is indenture trustee for some $329 million in debt.  In the petition, the company lists total assets of $1.2 billion and total debts of nearly $1.4 billion.

In the Declaration of Carlin Adrianopoli filed in support of the first-day motions, Mr. Adrianopoli notes he is employed by FTI Consulting, Inc., but has been engaged as Interim Chief Financial Officer for RadioShack.  He notes in the declaration that RadioShack has more than 21,000 employees, 4,400 company-operated stores in the U.S., Mexico and Asia, and more than 1,100 dealer/franchise stores worldwide.  Three owned distribution centers in Texas, California and Maryland ship products to the U.S. retail locations and dealer outlets.  RadioShack leases its headquarters and retail store locations with an aggregate monthly rent of $21 million.

Mr. Adrianopoli’s declaration identifies $250 million in principal outstanding under a 2013 credit agreement, $250 million outstanding under a 2013 term loan, $330 million in aggregate principal and interest under notes due in 2019, $124 million owed for merchandise and other unsecured trade obligation as of December 31, 2014.

Anticipated efforts during the bankruptcy cases, according to the Adrianopoli declaration, will include seeking approval for $285 million in DIP financing, prompt closure and liquidation of 2,100 under-performing stores, marketing and sale of the balance of the business and assets, and a new commercial agreement with Sprint.