RadioShack may live on after all.
According to report by Reuters, an affiliate of Massachusetts-based Kensington Capital Holdings, a family company, has agreed to assume ownership of the brand. Kensington’s affiliate is already owned $23 million by the Fort Worth-based electronics retailer, according to the report.
According to the report, the group submitted a $15 million bid for the brand and will license the brand back to General Wireless.
Several of RadioShack’s unsecured creditors filed suit on June 29 alleging that RadioShack’s parent company’s actions doomed the retailer.