Tuesday, March 24, 2015

RadioShack Goes To Standard General, Says Report

Bankrupt Fort Worth-based electronics retailer Radio Shack has reportedly been sold to creditor Standard General, according to a report from Bloomberg, citing people familiar with the situation. Standard General said last week that it was the only bidder on RadioShack, bidding $145.5M--but a substantial amount of that bid in loan forgiveness. Standard General has not said what it intends to do with the assets of RadioShack, although it had said earlier this year that it would look to convert a substantial number of stores to sell Sprint mobile devices and plans.