Standard General Closes On RadioShack Brand Buy - Twice

Standard General Closes On RadioShack Brand Buy

Closing the books on the bankruptcy
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Hedge fund Standard General, which operates RadioShack’s remaining 1,743 stores, completed the acquisition of the bankrupt retailer’s intellectual property on June 19.

New York — Hedge fund Standard General, which operates RadioShack’s remaining 1,743 stores, completed the acquisition of the bankrupt retailer’s intellectual property on June 19.

 The $26.6 million purchase gives Standard General, and its operational affiliate General Wireless, unfettered access to the RadioShack brand and other intangible assets in the U.S.

Rights to the trademark in Mexico, Latin America, the Middle East and North Africa were sold separately, raising an additional $14 million for RadioShack’s creditors, according to liquidator Hilco Streambank.

Along with the RadioShack brand, Standard General also retained patents, registered domain names, a controversial customer database, a global sourcing operation, and the former chain’s franchise and dealer network and infrastructure.

General Wireless has since brought in Sprint as a co-tenant in 1,435 of its RadioShack stores, where the carrier’s brand, mobile devices and services are showcased.

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