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, Reuters reported yesterday. An affiliate of Kensington Capital Holdings, a family office based in the Boston suburbs, is set to acquire RadioShack's intellectual property after it submitted a $15 million bid. 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. The deadline for other bidders to make offers was Tuesday, but no better proposals were received.
