{"id":35683,"date":"2017-07-20T06:27:19","date_gmt":"2017-07-20T06:27:19","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=35683"},"modified":"2017-07-20T06:27:19","modified_gmt":"2017-07-20T06:27:19","slug":"radioshack-brand-to-survive-under-new-owner-sources","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/lifestyle\/radioshack-brand-to-survive-under-new-owner-sources.html","title":{"rendered":"RadioShack brand to survive under new owner: sources"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"color: #000000;font-family: Arial, Helvetica, sans-serif\">RadioShack brand to survive under new owner: sources<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">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.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">An affiliate of Kensington Capital Holdings, a family office based in the suburbs of Boston, will acquire RadioShack&#8217;s intellectual property after it submitted a $15 million bid, the people said on Wednesday.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">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.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">The deadline for other bidders to make offers was Tuesday, but no better proposals were received, the people said.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">Kensington plans to license the 96-year-old brand back to General Wireless, the bankrupt company that does business as RadioShack, the people said. That company is currently working out its bankruptcy plan in court.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">RadioShack and Kensington did not immediately respond to requests for comment.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">RadioShack now has 425 independent dealer stores, an e-commerce business and fewer than 100 brick-and-mortar stores, the people said. It filed its second bankruptcy in March due in part to a challenging retail environment with more than 1,400 stores.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 14pt;font-family: Arial, Helvetica, sans-serif\">Kensington&#8217;s other investments include locally oriented eatery Dig Inn and music program Boinc.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"color: #000000;font-size: 8pt;font-family: Arial, Helvetica, sans-serif\">source:-http:\/\/www.reuters.com\/article\/us-radioshack-kensingtoncapital-idUSKBN1A427F<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/lifestyle\/radioshack-brand-to-survive-under-new-owner-sources.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-35683","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/35683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=35683"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/35683\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=35683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=35683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=35683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}