Judge Approves Sale of RadioShack Stores
A U.S. judge has given RadioShack permission to sell its 1,740 stores to Standard General, a hedge fund that plans to operate the stores with Sprint. One of RadioShack's creditors, Sulas Capital Partners, had opposed the sale. RadioShack declared bankruptcy in February after spending more than a year attempting to rebuild its business. Under the terms of the agreement, Sprint will own about 30% of each store's real estate, in which it will sell Sprint wireless goods and services. The remaining 70% of the stores' footprints will be used to sell RadioShack's branded electronics. RadioShack hopes to close the deal as soon as April 1.
Sprint to Sell Motorola Moto E Across Its Prepaid Brands
Sprint today said it plans to sell the Motorola Moto E from Boost Mobile, Virgin Mobile, and Sprint Prepaid this month. The Moto E, which has a larger screen and supports LTE 4G, is available in white from Boost Mobile beginning today for $99.99.
RadioShack Declares Bankruptcy, to Sell Stores to Sprint
RadioShack today filed for Chapter 11 bankruptcy protection and signed an agreement to sell approximately 1,750 of its stores to Sprint. Under the terms of RadioShack's Chapter 11 filing, RadioShack will sell the stores to Sprint and General Wireless, a subsidiary of one of RadioShack's major investors.
Sprint to Sell LG G5 April 1, Preorders Start March 24
Sprint said it will begin accepting preorders for the LG G5 on March 24. The device will reach stores April 1.
Sprint May Scoop Up Half of RadioShack's Stores
RadioShack and its creditors might sell half the company's stores to Sprint and close the remaining locations, reports Bloomberg. Sources familiar with the companies' plans suggest Sprint would rebrand the RadioShack stores, which would cease to exist as stand-alone electronics stores.
Guys... what's going on... it's April 1st!