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Report: Embattled bankrupt electronics retailer gets a lifeline


Against all odds, bankrupt RadioShack is still ticking.

An affiliate of Kensington Capital Holdings will acquire RadioShack’s intellectual property after it submitted a $15 million bid, Reuters reported. Kensington is already owned $23 million by the retailer, dating back to a loan it gave the company some two years ago.

Kensington plans to license the brand back to General Wireless, the bankrupt company that does business as RadioShack, the report said. The company is currently working out its bankruptcy plan in court.

RadioShack filed for bankruptcy twice in two years, most recently in March. It is now a shadow of its former self, with fewer than 100 stores and an online site.
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