Amazon, Sprint may buy some Radioshack stores: Bloomberg

Tue Feb 3, 2015 5:47am EST
 
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(Reuters) - Amazon.com Inc and Sprint Corp are considering acquiring some RadioShack stores after the troubled electronics retailer files for bankruptcy, Bloomberg reported, citing people with knowledge of the discussions.

Amazon has considered using the RadioShack stores as showcases for the Seattle-based company's hardware as well as potential pickup and drop-off centers for online customers, Bloomberg said. (bloom.bg/1D7QnUa)

Sprint and RadioShack have had talks about co-branding some of the stores, Bloomberg reported, citing two anonymous sources. The rest of the stores would close down, Bloomberg reported on Monday. (bloom.bg/16aNrZw)

The New York Stock Exchange (NYSE), meanwhile, said its regulatory arm was acting to delist RadioShack shares, and would suspend their trading immediately. (bit.ly/1CrbPV5)

Another bidder could yet emerge to buy RadioShack and continue operating the 94-year-old chain, Bloomberg said.

RadioShack declined to comment on the Bloomberg report and said it had not confirmed any of the information. Sprint declined to comment. Amazon could not immediately be reached for comment outside regular U.S. business hours.

The Wall Street Journal reported on Sunday that Standard General, a hedge fund and the largest investor in RadioShack, was in talks to serve as the lead bidder at a bankruptcy auction.

On Monday, the NYSE said it started the delisting process as RadioShack did not intend to submit a business plan to address its non-compliance with the exchange's listing standards.

RadioShack had received a warning from the NYSE last month — the second time in a year — that it had 45 days to come up with a business plan.   Continued...

 
The sign outside the RadioShack store is seen in Westminster, Colorado December 11, 2014.  REUTERS/Rick Wilking