A Long History with the Company Leads to a Sale Mandate
Hilco Streambank worked with Radio Shack in the years leading up to its bankruptcy filing, including to conduct valuations of the company’s intellectual property assets in 2013 and 2014. When the company filed for bankruptcy in 2015, the company’s lenders engaged Hilco Streambank to market and sell the company’s intangible assets.
Hilco Streambank Brought Others to the Table
An incumbent bidder for over 1,000 stores and inventory was an obvious candidate to bid on the intellectual property assets, but its opening bid slipped backward as the sale date approached. Hilco Streambank found and qualified multiple new bidders, including foreign entities, who pushed the incumbent to more than double its opening bid.
Hilco Streambank Assisted in a Successful Outcome
Hilco Streambank worked with RadioShack and the court-appointed consumer privacy ombudsman to resolve complex issues related to the sale of customer data, a key element to the intellectual property package. Ultimately, RadioShack generated a recovery of approximately $42 million from the sale, including $26.2 million for the sale of the RadioShack intellectual property interests in the U.S., Canada, Asia and Europe, and three sales of rights in foreign territories.