The former RadioShack tripped over a major hurdle on Friday, when a bankruptcy judge ruled the distressed former electronics retailer owes the Internal Revenue Service at least $72 million and possibly more in interest and penalties, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Brendan Shannon had urged the former RadioShack and the IRS to resolve the tax dispute consensually, but negotiations ultimately came to an impasse. The former RadioShack, already short on cash, must now find a way to satisfy the IRS's priority claim before its chapter 11 plan goes before Judge Shannon for final approval next week.
