Yesterday, the sale of 1,740 remaining RadioShack stores to hedge fund Standard General was approved by a bankruptcy court. We’ve known since before the bankruptcy filing that their plan is to team up with Sprint to re-open stores that will be part phone store, part RadioShack merchandise. What would that look like? Sprint has already showed us. Well, they showed the federal bankruptcy court in Delaware, which makes them public documents. [More]
radioshack afterlife
Bankruptcy Court Approves Sale Of 1,740 RadioShacks To Standard General
By 3.31.15
The Great RadioShack Bankruptcy Auction Standoff may be over. The 94-year-old electronics retailer declared bankruptcy in February, and then closed around half of its stores, selling their leases. The company wanted to rid itself of the rest of its stores before April began so they won’t have to pay April rent on all of those stores out of money that should be going to their creditors. [More]
Salus Capital Claims Shenanigans In RadioShack Bankruptcy Auction
By 3.30.15
Last week, it seemed like the bankruptcy auction for what’s left of RadioShack would be pretty straightforward. Standard General, one of the chain’s biggest lenders, would put up a small amount of cash and a large amount of their own debt to take over about 1,700 stores. Another lender called shenanigans on the whole sale, offering a cash bid and claiming that it was superior. Now the auction enters week 2. [More]
Good News: RadioShack Says Consumer Information Isn’t Part Of Bankruptcy Auction
By 3.27.15
Earlier this week, we reported that the one of the assets of the former RadioShack empire up for sale is the tens of millions of names, mailing addresses, phone numbers, and e-mail addresses that the retailer has collected from its customers. Many states’ attorneys general objected to this possible sale, noting that it may violate Texas law and the company’s own privacy policies. Fortunately, that consumer data is not yet for sale. [More]
RadioShack Bankruptcy Auction Continues: Unsecured Creditors May Not Get Much
By 3.24.15
Today is day 2 of the RadioShack bankruptcy auction. While selling the assets of a company that was once worth billions of dollars that still has thousands of stores isn’t a simple endeavor, the proceedings are going even slower than anticipated because other creditors object to the current high bid from Standard General. [More]
RadioShack Buyer Plans To Donate Art And Company Archives
By 3.23.15
You probably don’t normally associate the phrases “valuable art collection” and “RadioShack,” but the headquarters building that opened just ten years ago has some lovely artwork, valued at $500,000 but possibly worth more at auction. Standard General, the presumed winner of the auction for the RadioShack brand and many of its stores, plans to donate these artworks and the corporate archives to local corporate institutions. [More]
