Bids beginning at $20 million will be taken for the RadioShack name now that the company is in bankruptcy. Standard General, the largest RadioShack shareholder, has asked the US Bankruptcy Court to allow it to lead the bidding on March 23 at an auction. Standard General also has plans to buy 2,000 company stores.
RadioShack's current plans are still not entirely clear. We now know the name of the company will not continue since it is being sold. Earlier reports from the company had said it would either sell or close 4,000 retail stores by the end of next month.