NEW YORK, April 23, 2015 (GLOBE NEWSWIRE) -- Hilco Streambank (www.hilcostreambank.com) announced that on behalf of certain lenders, it is assisting RadioShack Corporation (OTCMKTS: RSHCQ) 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 (OTCMKTS: RSHCQ) 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.
RadioShack (OTCMKTS: RSHCQ) has been a significant part of the American retail landscape for over 94 years. RadioShack's offerings include consumer electronics from leading national private brands including: RadioShack®, AUVIO®, Enercell®, Realistic® and Gigaware®, as well as mobility products and services from major wireless carriers such as AT &T, Sprint and Verizon.
About Hilco Streambank
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. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), a worldwide financial services company and leader in helping companies maximize the value of their assets.
Parties interested in learning more about the Assets and the sale should contact Hilco Streambank directly using the contact information provided below:
David Peress
Executive Vice President
Hilco Streambank
(781) 471-1239
dperess@hilcoglobal.com
Jack Hazan
Executive Vice President
Hilco Streambank
(212) 610-5663
jhazan@hilcoglobal.com
Dmitriy Chemlin
Director
Hilco Streambank
(212) 610-5642
dchemlin@hilcoglobal.com