The question comes down to is the private equity group a successor organization. If Best Buy had swooped in and bought Radio Shack, maintaining it as an ongoin

The question comes down to is the private equity group a successor organization. If Best Buy had swooped in and bought Radio Shack, maintaining it as an ongoing concern I don't think anyone would have objected to them getting the data and honoring Radio Shack's original agreement. That is, they are not a third party, they are the successor to the party of the first part, viz Radio Shack. Also had a private equity group come in and bought Radio Shack and taken them private, few would have objected to the now private Radio Shack under new management, maintaining the data and the agreements they held. But by dragging Radio Shack through bankruptcy, they begin to lose the appearance of a successor organization, and begin to look more like a third party.