Hilco Streambank announced that on behalf of certain lenders, it is assisting RadioShack Corporation in soliciting offers to acquire certain assets. The assets include certain U.S and Foreign registered Trademarks, 73 active and pending patent applications, the RadioShack customer database including 8.5MM opt-in email addresses, 295 registered domains - including "RadioShack.com" "Tandy.com", "TheShack.com" and "Ignition.com", the Company's franchise and dealer network and infrastructure, and the Company's Global Sourcing Business. The Assets will be sold in a sale under Section 363 of the Bankruptcy Code in the Chapter 11 case pending in the United States Bankruptcy Court for the District of Delaware. The proposed bid deadline is May 6th 4PM EDT with an auction scheduled in New York, NY on May 11th 10AM EDT.
On April 1st, 2015, the Bankruptcy Court approved the sale of certain RadioShack assets to General Wireless Inc. and Sprint Solutions. The Intellectual Property and Global Sourcing Business were excluded from the sale. On April 10th, 2015, the Company filed its Motion to approve Bidding Procedures for the sale of certain assets including remaining Intellectual Property and the Company's Global Sourcing Business.
As of December 31, 2014 RadioShack operated more than 4,100 company stores across the United States, Puerto Rico, and U.S. Virgin Islands, and 274 stores in Mexico. In addition the Company has a network of approximately 1,000 RadioShack dealer-franchise outlets located throughout the U.S, Central America and Asia. The Company also sells product through its e-commerce platform www.radioshack.com. RadioShack private label products for the Company owned stores, e-commerce business, and dealer network are designed and sourced by RadioShack (OTCMKTS: RSHCQ) in Asia and elsewhere through the Company's Global Sourcing Business.
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Over the last three years Hilco Streambank has become a leader in the IP valuation and disposition market, representing brands across various industries.