A lender to bankrupt RadioShack Corp. told a U.S. judge on Friday it was prepared to present a new offer that was a "significant improvement" over a rival proposal that was selected as a winning bidder at an auction last week, Reuters reported on Friday. Anthony Clark, an attorney for Salus Capital Partners, said the lender was working on the bid and called it "a significant improvement over anything in front of the court right now." Clark's announcement came at the end of two days of hearings to consider the sale of the company to Standard General, a hedge fund. RadioShack's advisers declared that Standard General had outbid Salus, RadioShack's largest creditor, at a four-day auction that concluded on Thursday. Salus has challenged that, arguing that its bid included $271 million in cash, compared with just $16 million offered by Standard General. The hedge fund's proposal also included $112 million of debt forgiveness.
