Osage, Iowa — This month’s purchase of RadioShack’s trademarks, domain names, patents and customer data by former majority investor Standard General closes a major chapter in the storied chain’s bankruptcy.
But another is still to be written.
Along with RadioShack’s intellectual assets, the New York hedge fund also acquired the retailer’s extensive franchise and dealer network and infrastructure.
While Standard General, through its new subsidiary General Wireless, draws up new franchise agreements, the 800 or so independent store operators who still wave the RadioShack flag remain in limbo, where they’ve been since the bankruptcy filing in February.
But another pair, Mike and Becky Mauer, owners of RadioShack franchise Home Town Connections here in Osage, Iowa, took a more direct and plaintive approach.
In a letter to the editor of their hometown paper, the couple reminded their customers that they have served the community for 28 years and assured them that despite the bankruptcy, and regardless of the outcome of General Wireless’ new dealer agreements, they will continue to do so.
Here’s their missive:
We Are Remaining in Business
To The Editor:
To inform our customers, we will not be closing. There has been a great deal of concern and confusion about the RadioShack Corp., filing bankruptcy in February of this year. The action has led to the closing of corporate store locations, many of which are in larger cities.
In turn, many people thought that all RadioShack stores were closing, and this is not the case. A company by the name of Standard General, also known as General Wireless, has purchased the remaining corporate stores and the IP (intellectual property), which includes the RadioShack brand and logo.
There will be a new dealer agreement designed for dealer/franchise stores like ours. As owners of this business, we will choose whether or not to accept the new agreement from Standard General. Should we decide not to accept the new agreement, the only change will be that we will not carry RadioShack branded products. Home Town Connections is locally owned and operated. We will not be closing. We have been in Osage for 28 years as a RadioShack and will continue to carry electronics, office and craft supplies.
We appreciate the years of loyalty from our customers and would like to reassure everyone that we will continue on as Home Town Connections.
Mike and Becky Mauer, owners
Home Town Connections, Osage
June 24, 2015