It’s official: Standard General affiliate buys 1,743 RadioShack stores

Fort Worth, Texas - General Wireless Inc., an affiliate of Standard General LP, has officially received U.S. Bankruptcy Court approval to acquire the inventory and assume leases of 1,743 RadioShack stores following a bankruptcy auction. The company operates a long-term partnership with Sprint, and Sprint will provide services, products and accessories at some stores.



The stores will feature emerging technologies, as well as the traditional accessories and DIY for which RadioShack is known. Approximately 1,440 stores will be co-branded with Sprint.



"This has admittedly been a difficult time for all RadioShack supporters,” said Soo Kim, managing partner of Standard General, the majority shareholder of General Wireless. “That having been said, this transaction is an important milestone in this storied company's history. It has allowed the company to shed stifling debts and unprofitable business lines.”