The judge overseeing RadioShack Corp.’s bankruptcy said he will approve the sale of about 1,700 stores to the chain’s biggest shareholder, Bloomberg News reported yesterday. Yesterday’s decision ensures the survival of the 94-year-old electronics retailer, for now, and saves thousands of jobs that might have been lost if the stores were liquidated. The buyer, Standard General LP, has said that it plans to run the business in a co-branding arrangement with Sprint Corp. During four days of sometimes contentious hearings in bankruptcy court, creditors fought the company and each other over how much the stores were worth and how proceeds of the sale should be used.
Hedge fund Standard General was declared the winner of an asset auction last week with a bid worth about $145.5 million.
