UPDATE: RadioShack (RSH) Receives Interim Approval for Loan to Fund Closings; Will be Able to Continue Sales

(Updated - February 9, 2015 2:33 PM EST)

RadioShack (NYSE: RSH) is said to have won clearance to continue sales as the retailer begins its bankruptcy process.

According to market reports, RadioShack also won approval for a $285 million financing arrangement that is in place with existing lenders. About $20 million in new capital should be made available to the retailer following the verdict.

RadioShack is looking to shut down over 1,100 stores by the end of February and a total of 2,100 might be shut down by the end of bankruptcy proceedings.

The NYSE recently halted trading of RadioShack stock ahead of the chapter 11 filing.

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