Posted on 05/13/2015 10:36:09 AM PDT by petercooper
Standard General LP, which bought 1,700 RadioShack Corp. store leases in March, said it prevailed this week in an auction for the bankrupt electronics retailer’s brand name.
The winning bid was $26.2 million, a spokesman for the hedge fund said Wednesday. That price also covers a trove of customer data.
RadioShack entered bankruptcy in February with a plan to have a Standard General affiliate take over as many as half its approximately 4,000 stores in a co-branding arrangement with Sprint Corp. Standard General was declared the winner of the store auction with a bid worth about $145.5 million.
The latest auction, which began on Monday, also included Fort Worth, Texas-based RadioShack’s intellectual property. The proposed sale of customer information that the chain collected over the years drew objections from 37 state attorneys general, who expressed concern about how a potential buyer might use the data and exactly what information was being sold.
(Excerpt) Read more at finance.yahoo.com ...
Don't believe companies' promises to never misuse the information. They aren't getting your name and address for your benefit.
$26 million is just a drop in Radio Shack’s bankruptcy bucket.
Why the H8? Did Radio Shack typically have poor service or cashiers with an attitude? I’m not very tech savvy or tech-curious, so I would not enter a Radio Shack that often. I barely know what to ask at for Best Buy.
You can walk in and buy TTL parts, servo motors, transformers, diodes, etc. I know that’s not everyone’s cup of tea, but it was cool to do that.
Try that at Michaels. Don’t know if Hobby Lobby stocks electronic hobby materials, but the rest of the hobby stores are pretty sexist - catering to the more feminine stuff.
But the range of options is minuscule, a tiny fraction of what was common in the pre-Internet days. If I want TTL parts, servo motors, transformers, diodes, etc. I’ll visit a website drawing on a warehouse, not a store dominated by cell phones and cheap random gadgets and just a couple cubic feet devoted to the parts I seek.
And that’s why I always refused to give them any information, though I haven’t been in a Radio Shack in decades.
Something that I found hilarious related to this was on Saturday Night Live about a year ago during the “Weekend Update” segment. The anchorman said “Radio Shack announced today that it was filing for bankruptcy; a spokesman cited the primary reason for the filing was “stiff competition from The March of Time”. lol
I’m glad most stores will remain open. I didn’t know where I was going to get my VHS tapes and parallel printer cables.
They made great computers in their day. Like all the hundreds of others though they lacked the vision to successfully go forward.
Radio Shack by the very nature of their name was anachronistic. There is no market for what they originally sold.
“Why does Radio Shack ask for your phone number when you buy batteries?”
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I always answer that I don’t have a phone ,,, even though I have one right there in my shirt pocket.
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