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RadioShack Brand Name Sold For $26.2 Million

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RadioShack Corp. (OTC: RSHCQ)'s brand name and customer data got acquired for $26.2 million by the New York hedge fund Standard General LP, according to Bloomberg.

"We always believed there actually was a core here that was worth saving," Standard's Soohyung Kim told the New York Times recently.

Standard recently acquired 1,700 of RadioShack's 4,000 stores in a separate transaction.

Kim plans to turn RadioShack into an "electronics convenience store of sorts" according to the Times, selling accessories that are immediately required.

"We do our best to make lemonade out of lemons," Kim said.

Acquisition of the RadioShack brand requires approval from U.S. Bankruptcy Court Judge Brendan L. Shannon in Delaware.

A mediation hearing concerning the use of customer data is

 

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