Standard General LP, which bought 1,700 RadioShack Corp. store leases in March, said it prevailed this week in an auction for the bankrupt electronics retailer's brand name.
The winning bid was $26.2 million, a spokesman for the hedge fund said Wednesday. That price also covers a trove of customer data.
RadioShack entered bankruptcy in February with a plan to have a Standard General affiliate take over as many as half its approximately 4,000 stores in a co-branding arrangement with Sprint Corp. Standard General was declared the winner of the store auction with a bid worth about $145.5 million.
The latest auction, which began on Monday, also included Fort Worth, Texas-based RadioShack's intellectual property.
The proposed sale of customer information that the chain collected over the years drew objections from 37 state attorneys general, who expressed concern about how a potential buyer might use the data and exactly what information was being sold.
Any sale is subject to approval by the bankruptcy judge in Wilmington, Delaware.
~ Bloomberg News ~