WILMINGTON, Del. — A hearing on whether to approve the bankruptcy sale of assets of electronics retailer RadioShack opened Thursday with the company seeking court approval of the purported winning bid and an attorney for a losing bidder describing the auction as a sham and asking a Delaware judge to reopen the sale process.

RadioShack, based in Fort Worth, Texas, says an offer valued at about $160 million from hedge fund Standard General LP was the best bid submitted in an auction that began Monday in New York and was suddenly reconvened in Wilmington, Del., after midnight Thursday, just hours before the court hearing.

Standard General’s bid, which would keep 1,743 stores open and preserve about 7,500 jobs, consists mostly of credit on debt it is owed.

In last-minute revisions to its initial offer, Standard General agreed among other things that intellectual property and customer data would not be part of the sale. The planned inclusion of personally identifiable information on 117 million consumers had prompted objections from government authorities in several states.

RadioShack’s bankruptcy plan calls for Sprint, the No. 3 U.S. wireless carrier, to operate dedicated “store within a store” shops in most of the RadioShack locations acquired by General Wireless, a newly formed affiliate of Standard General. The proposed sale agreement gives Standard General a six-month, royalty free license to use the RadioShack trademark, which would either have to be purchased later or replaced with a new name.