Connect with us

RadioShack Sold to Hedge Fund Savior for $26.2 Million

Android News

RadioShack Sold to Hedge Fund Savior for $26.2 Million

RadioShack Standard General

Remember RadioShack? Sure you do. Back within the day it used to be the position to purchase random cables, connectors, radio-managed automobiles, and so on. But then Monoprice and Amazon kinda ruined that for ol’ RS. RadioShack then attempted to promote extra shopper units and act as a licensed dealer for mobile phone firms, however nobody cared. Because why do O need to pass to RadioShack for any of that? The erstwhile DIY electronics chief filed for chapter this previous February, making an attempt to repay greater than $1 billion in debt and close down our convert so much of its retail outlets.

Hedge fund Standard General snatched up 1,740 stocks of RadioShack inventory in March. Standard General tried to convert RadioShack right into a “ultimate group vacation spot for shopper electronics,” as The Washington Post said, losing its stock of brand name-identify devices and focusing only on such things as batteries, mobile phone chargers, and headphones. Oh, and Sprint telephones. Lots of Sprint telephones.

That plan hasn’t panned out completely, and nowadays, Standard General bought RadioShack’s identify and highbrow assets for a groovy $26.2 million, up from the beginning bid of $15 million. That little little bit of IP comprises helpful consumer knowledge. General Wireless, Standard General’s wireless associate, says it's going to streamline the RadioShack logo even additional, that specialize in “must haves” and Sprint merchandise. If a Sprint agreement isn’t a need, O don’t understand what's. My entire global is crashing down, folks.

Will RadioShack 2.0 upward push like a Lazarusian beast, undeterred and not able to be vanquished once more? Only time will inform. Standard General obviously sees a few worth within the logo although on a regular basis shoppers don’t. We’re now not in Woolworth’s territory but.

Source: Wall Street Journal

Come remark in this article: RadioShack Sold to Hedge Fund Savior for $26.2 Million


More in Android News

To Top