RadioShack is bankrupt and on the auction block. Sources tell Reuters that a hedge fund called Standard General has just increased its bid for some 1,740 stores to about $165 million dollars. It’s bidding against liquidators that would sell off the remaining inventory, store fixtures and real estate.
If Standard General wins, the idea is a partnership with Sprint to sell phones and phone plans. It’s worth it at this juncture to ask ourselves: how did it come to this?
Heather Landy is the global news editor for Quartz and has been digging deep into the sad demise of the Shack.
Click the media player above to hear Heather Landy in conversation with Marketplace Morning Report host David Brancaccio.
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?