Business

Will RadioShack get yet another shot? Investor reportedly bids for name

The RadioShack on Main Street in Weatherford is the chain’s last remaining store in North Texas.
The RadioShack on Main Street in Weatherford is the chain’s last remaining store in North Texas. Star-Telegram

What’s left of RadioShack may have yet another life.

According to a report from Reuters using unnamed sources, a Boston-area investment firm has submitted a $15 million bid to acquire the 96-year-old retailer’s intellectual property with plans to license the name back to its bankrupt owner, General Wireless.

The investor, Kensington Capital Holdings, made a $23 million loan to RadioShack when it came out of bankruptcy the first time two years ago, Reuters reported. General Wireless attempted to revive the Fort Worth-based consumer electronics chain by partnering with Sprint, but that effort ended with a second bankruptcy filing in March.

The chain closed the bulk of its remaining stores — more than 1,000 — after the Memorial Day weekend, including all of its stores in the Metroplex. The only store left in North Texas is on Main Street in Weatherford. There’s also a store in Waco.

At the time, RadioShack said the closing would leave it with fewer than 70 company-owned stores plus about 500 dealer locations. It also operates radioshack.com. When it first filed for bankruptcy in 2015, the chain had more than 4,000 stores.

Last month, RadioShack’s creditors filed a lawsuit accusing Sprint of driving the company into bankruptcy by sabotaging the business by using confidential information for its own benefit.

Steve Kaskovich: 817-390-7773, @stevekasko

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