RadioShack brand to survive under new owner: sources
The RadioShack brand will live on after a family office already owed $23 million by the bankrupt U.S. electronics chain agreed to assume ownership of it, as no other buyers submitted better bids this week, people familiar with the matter said.
An affiliate of Kensington Capital Holdings, a family office based in the suburbs of Boston, will acquire RadioShack's intellectual property after it submitted a $15 million bid, the people said on Wednesday.
Kensington had made a $23 million loan to RadioShack after it exited its first bankruptcy two years ago, and had secured a deal with U.S. wireless carrier Sprint Corp to co-brand 1,400 stores.