RadioShack will close over 1,700 stores following bankruptcy filing

From Emily Gera for Polygon:  Long-running electronics company RadioShack, which filed for bankruptcy last week, will see the closure of 1,784 stores across North America by March 31, the company confirmed in court documents.
 
RadioShack plans for the closures to come in three waves, the first of which will be completed by Feb. 17 and see the closure of 162 stores. The second will see 986 stores closed by Feb. 28, followed by a final purge of 636 stores by the end of March.
 
Despite filing for chapter 11 bankruptcy, some stores will continue to exist. RadioShack operates 4,485 stores across the U.S. and it was reported General Wireless had plans to purchase between 1,500 and 2,400 stores. As part of an agreement with wireless service provider Sprint, 1,750 RadioShack stores will also be transformed into a combination Sprint/RadioShack retailer.
 
According to the Delaware court filing, RadioShack representatives said the company had $1.2 billion in assets and $1.38 billion in debt.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

IntraSonic Technology - I600 In-Wall Digital Stereo Music System

IntraSonic Technology - I600 In-Wall Digital Stereo Music System

You asked, we listened! Music lovers that want to enjoy their tunes everywhere - yes, everywhere! - now have a high-tech, easy-to-use option that upgrades the look and functionality of any home or office. The I600 In-Wall Digital Stereo Music System is a music distribution system that provides enhanced usability and delivers mind-blowing stereo quality sound. With touch screen controls, Bluetooth connectivity, and several music source options, the I600 turns your surroundings into an amazing music entertainment experience.