In Auction for RadioShack Name, Highest Bid Stands at $15 Million The auction also includes the bankrupt electronic retailer's customer data.

By Reuters

This story originally appeared on Reuters

The auction for bankrupt electronic retailer RadioShack's name and customer data will resume on Tuesday with bidding at $15 million, according to a lawyer tracking the sale.

The high bidder is an affiliate of the Standard General hedge fund, which acquired 1,740 RadioShack stores in April, according to Adrienne Walker of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo.

The auction for the assets is taking place at the New York offices of the Jones Day law firm.

Walker represents a group of RadioShack's U.S. independent dealers and franchisees. They have objected to the sale over concerns about whether they could continue to use the RadioShack trademark and whether a buyer of the company's customer data will be subject to their privacy policies.

The sale of RadioShack's customer data has also raised concerns about privacy, and Texas Attorney General Ken Paxton's office has objected to the sale of personally identifiable information.

Apple Inc joined that effort last week with a filing in U.S. Bankruptcy Court in Wilmington, Delaware, that said its reseller agreement with RadioShack protects information collected by the retailer during sales of Apple products.

The sale of the RadioShack name and customer data must be approved by U.S. Bankruptcy Judge Brendan Shannon.

RadioShack, forced into Chapter 11 bankruptcy in February by competition from online and bricks-and-mortar rivals, won court approval in March to sell part of its business to General Wireless, an affiliate of the Standard General hedge fund. Most of RadioShack's surviving stores will be co-branded with cellular phone provider Sprint Corp.

The case is In Re: RadioShack Corp, Case No. 15-10197, in U.S. Bankruptcy Court, District of Delaware.

(Reporting by Jim Christie; Editing)

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Celebrity Entrepreneurs

From Hollywood to Harvest — How Zooey Deschanel is on a Mission to Make Fresh Produce More Accessible

Along with her business partner and ex-husband, serial entrepreneur Jacob Pechenik, Deschanel founded Lettuce Grow. This hydroponic vertical garden system allows you to grow fruits, vegetables, herbs and edible flowers at home.

Business News

Elon Musk's xAI Claims Its New Grok 3 AI Is Better Than ChatGPT and DeepSeek: 'Seeing the Beginnings of Creativity'

xAI debuted the new AI on Monday, claiming it has 10 times the computational power of Grok 2.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Side Hustle

This 30-Year-Old's $6,000-a-Month Side Hustle Started Making Money 'Immediately' — But He's Not Quitting His Day Job

Derrick Mathy works in orthopedic surgical device sales and is on a mission to bring people together in real life.

Business News

'Unprecedented in Our 53-Year History': Southwest Airlines Announces Its First Mass Layoffs Ever

The airline is eliminating 15% of its corporate workforce, including many in senior leadership positions.

Business Models

How This Luxury Retail Store Builds 100-Year-Relationships with Its Customers

Brent Polacheck, owner of Polacheck's Jewelers, is proving that in an era of instant gratification, the art of generational relationship-building still drives retail success.