In addition to deciding the fate of hundreds of RadioShack stores, a bankruptcy court in Delaware this week may also decide what happens to a trove of art.
Should the Standard General hedge fund prevail in its bid to win more than 1,700 RadioShack stores in a scheduled auction Monday, it plans to donate the company’s artwork, memorabilia and historical photographs and papers to local institutions.
Deep in a court filing that spells out bidding procedures is a paragraph that states the buyer’s intentions. An inventory of the items was not included, but after nearly 100 years in business, the collection is likely extensive.
Over the years, RadioShack commissioned art from several top artists including Canadian painter William Fisk, New York-born Bob Knox, David Kapp, George Nick, Robert Schmid, Daniel Tennant and Jane Dickson.
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The collection is valued at $500,000 in the filing, but some say the works could be worth much more on the open market. In addition to artwork, other items include a mix of old advertising and photos from the days of Allied Radio and Tandy Corp., the first Realistic radio and a prototype of the TRS-80 computer.
But which lucky institutions will get the pieces won’t be known until a sale to Standard General closes.
“This deal helps to preserve RadioShack’s future and its past,” David Glazek, a Standard General partner, said in a statement. “These historical materials document RadioShack’s significant contributions to American culture, and we are honored to share them with the local community.”
When the Tarrant County College District bought RadioShack riverfront campus in downtown Fort Worth in 2005, it obtained several pieces from RadioShack’s collection, but not those that carry the RadioShack logo or theme.
The Fort Worth Public Library has an extensive archive of RadioShack materials, including 167 boxes of materials dating from 1923 to 2003. They include magazines, catalogs, photographs, marketing materials and administrative documents.
Fort Worth banker joins Ciera
Longtime Fort Worth banker Charlie Powell has been named president of Ciera Bank. Powell had been president and chief operating officer of the Fort Worth region of Bank of Texas for 15 years. The move was effective March 2.
Ciera Bank is a 125-year-old family-owned bank founded in Graham. Until 2013, its Fort Worth bank was known as Fort Worth West Side Bank & Trust, Interstate 30 and Summit Avenue.
“We were extremely pleased to attract such an experienced banker with the passion for customers and community service that Charlie has,” Chuck Rosebrough, Ciera’s chairman, said in a statement.
“This new position energizes me with the return to hands-on banking,” said Powell, who was named 2011 Banker of the Year by the Tarrant County Bankers Association.
Ciera Bank has locations in Fort Worth, Aledo, Aubrey, Bryson, Denton, Flower Mound, Graham and Hickory Creek.