RadioShack to auction off U.S. name rights, consumer data

Bids are due today from those companies seeking the right to reuse RadioShack’s name in the U.S. and gain access to the names of millions of the chain’s former shoppers.

Creditor Standard General is predicted as the likeliest candidate among known bidders to purchase RadioShack’s name and that of its customers at auction. The investment firm declined to comment on its plans other than to say it would work with state attorneys general to protect consumer data, according to Bloomberg Business.

Naming rights in other parts of the world have already sold to separate buyers: those in the Middle East went for $1.5 million, and in Latin America for $5 million. A deal for the brand’s Mexican assets pulled in an additional $31 million.

The electronics retailer has already sold former store locations, including 1,700 to creditor Standard General for $145 million, plus another 160 to video game retailer GameStop for approximately $2.4 million, and placed leftover stock up for bid.

The rights for use of RadioShack’s trademark in the U.S. are expected to go for less than that of its material holdings.

Read more from Bloomberg Business.