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

Platinum Tools EZ-RJPRO Termination Pod

Platinum Tools EZ-RJPRO Termination Pod

Our new EZ-RJPRO Termination Pod is designed for the professional installer providing everything he needs for consistent, repeatable terminations and overall quicker and easier installations," explained John Phillips, Platinum Tools, Inc. product manager. "This heavy duty kit is the perfect solution when working with both delicate as well as high performance, larger OD cables that are tougher to terminate due to larger wire gauges, thicker, harder insulation on the conductors and pair separating splines. Not only will you overcome these connectivity obstacles but you can be assured that every termination will meet FCC specifications.