In an auction for what remains of RadioShack's (NYSE:RSH) 2,000 store locations, GameStop won the right to take over more than 160 stores.
According to court documents filed in Wilmington, Delaware, by the bankrupt consumer electronics retailer, GameStop's Spring Communications Holding Inc. will pay $15,000 per store to take over leases in the United States, choosing the locations it wants to buy, reported Bloomberg.
Spring will use the locations to sell its AT&T phones and service.
RadioShack filed for Chapter 11 bankruptcy protection earlier this month and agreed to sell half of its 4,000 stores to its largest shareholder, Standard General, agreeing to co-brand in up to 1,750 Sprint Corp. retail stores. Standard General has also agreed to a sale of the chain's brand name separate from its locations.
-See this Bloomberg article
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