Report: GameStop bids $2.4 million on 163 RadioShack leases

Fort Worth, Texas – Video game retailer GameStop Corp. has reportedly bid on the leases of 163 stores that bankrupt consumer electronic chain RadioShack Corp. is abandoning as of March 1. According to Reuters, GameStop’s total bid equaled about $2.44 million, or $15,000 per lease.



As part of the bid, GameStop has two months to decide if it wants to continue or terminate the leases. A GameStop spokesperson said the company would use the leases to expand it store count of Spring Mobile locations, which exclusively sell AT&T wireless products. Currently, GameStop operates 311 Spring Mobile stores.



Although RadioShack was auctioning 1,100 stores it plans to abandon, it received bids for only four other leases. Standard General has submitted an initial $200 million “stalking horse” bid for 2,000 stores RadioShack plans to keep open, which it will auction in March.