Skip to main content

RadioShack Files Bankruptcy Plan After Standard General Sale

Submitted by Anonymous (not verified) on

RadioShack Corp. filed a bankruptcy liquidation plan explaining how the remaining assets of the once-iconic consumer-electronics retailer will be distributed, Bloomberg News reported on Saturday. The plan follows the sale of about 1,700 of the Fort Worth, Texas-based chain’s stores -- as well as the rights to its name -- to Standard General LP. The hedge fund plans to run the locations under a co-branding arrangement with Sprint Corp. In addition to buying the stores for about $145.5 million, Standard General purchased data on about 67 million customers in a $26.2 million deal for assets including the RadioShack name. The plan filed on Friday in bankruptcy court doesn’t include specific distribution amounts.