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RadioShack Name Goes to Standard General for $26.2 Million
Hat tip: a Yahoo! group for railroad scanning enthusiasts.
RadioShack Name Goes to Standard General for $26.2 Million
by Dawn McCarty
10:14 AM EDT, May 13, 2015
The dismantling of RadioShack Corp. grew closer to completion with the auctioning of the 94-year-old electronics retailer’s name to hedge fund Standard General LP for $26.2 million.
Standard General, which bought hundreds of RadioShack store leases in March, prevailed this week in the bidding for the bankrupt chain’s brand name, a trove of customer data and other intellectual property, the hedge fund said Wednesday.
Any transaction is subject to approval by the court in Wilmington, Delaware, where the bankruptcy was filed in February. A sale-approval hearing for the name is set for May 20.
RadioShack entered bankruptcy after struggling to compete with big-box retailers and online merchants. It has since been pursuing a plan to have a Standard General affiliate take over hundreds of stores in a co-branding arrangement with Sprint Corp. ... Standard General won the store auction in March with a bid worth about $145.5 million for 1,700 of the chain’s 4,000 locations.
10:14 AM EDT, May 13, 2015
The dismantling of RadioShack Corp. grew closer to completion with the auctioning of the 94-year-old electronics retailer’s name to hedge fund Standard General LP for $26.2 million.
Standard General, which bought hundreds of RadioShack store leases in March, prevailed this week in the bidding for the bankrupt chain’s brand name, a trove of customer data and other intellectual property, the hedge fund said Wednesday.
Any transaction is subject to approval by the court in Wilmington, Delaware, where the bankruptcy was filed in February. A sale-approval hearing for the name is set for May 20.
RadioShack entered bankruptcy after struggling to compete with big-box retailers and online merchants. It has since been pursuing a plan to have a Standard General affiliate take over hundreds of stores in a co-branding arrangement with Sprint Corp. ... Standard General won the store auction in March with a bid worth about $145.5 million for 1,700 of the chain’s 4,000 locations.