A U.S. judge has given RadioShack permission to sell its 1,740 stores to Standard General, a hedge fund that plans to operate the stores with Sprint.
One of RadioShack’s creditors, Sulas Capital Partners, had opposed the sale.
RadioShack declared bankruptcy in February after spending more than a year attempting to rebuild its business. Under the terms of the agreement, Sprint will own about 30% of each store’s real estate, in which it will sell Sprint wireless goods and services.
The remaining 70% of the stores’ footprints will be used to sell RadioShack’s branded electronics. RadioShack hopes to close the deal as soon as April 1.
