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Status: Not Logged In; Sign In Economy See other Economy Articles Title: Report: RadioShack to close all stores Source: KTRS URL Source: http://www.ktrs.com/report-radiosha ... ll-stores-sell-half-to-sprint/ Published: Feb 2, 2015 Author: News Post Date: 2015-02-02 21:38:48 by GeorgiaConservative Keywords: radioshack, bankruptcy Views: 1039 Comments: 5 (KTRS) – Radio Shack has been selling communication equipment since 1921, but according to Bloomberg, the retail chain will not be celebrating a 100th birthday. As part of a bankruptcy deal, RadioShack Corp. will be shutting down their entire chain of 7,000 tech stores, half of which will be reportedly sold to Sprint. According to the report, RadioShack locations that are sold to Sprint would operate under the wireless carrier’s name, meaning RadioShack would cease to exist as a stand-alone retailer. RadioShack received a rescue financing package from Standard General LP in October, and the hedge fund would serve as the lead bidder in a filing and provide debtor-in-possession financing after filing, said the people. That would allow the investment firm to recoup some of the costs of the $535 million loan. Liquidating the stores also would let RadioShack avoid a battle with lenders over control of the company. Post Comment   Private Reply   Ignore Thread   Top • Page Up • Full Thread • Page Down • Bottom/Latest #1. To: GeorgiaConservative (#0) They have been closing stores for quite some time. Sadly, another old retailer falling along the wayside. Otter  posted on  2015-02-02   21:43:47 ET  Reply   Trace   Private Reply   #2. To: Otter (#1) Sadly, another old retailer falling along the wayside. The only thing sad about it is that Radio Shack could not adopt to changes in consumer preferences in technology. I was sorry to see Borders close as I thought that it was one of the best large scale, non-boutique book stores around. Compare the fortunes of Westfield Whip Manufacturing to Wang Laboratories. Life's tough in a capitalistic, free market type economy. потому что Бог хочет это тот путь SOSO  posted on  2015-02-02   22:38:27 ET  Reply   Trace   Private Reply   #3. To: GeorgiaConservative (#0) Sad to see. At one time, they were almost as hot with the techie types as Apple is today. I recall going with electronics geek buddies to hang out and look for bargain parts and supplies at Rat Shack. They never adapted well to modern retailing. Their own employees were often their worst enemies (snapping up sales items and price-match items to sell them at a profit on eBay). And I never did figure out why I had to give them my phone number so I could buy a couple of batteries. Tooconservative  posted on  2015-02-03   1:01:21 ET  Reply   Trace   Private Reply   #4. To: GeorgiaConservative, TooConservative, Zesta (#0) (Edited) Ever notice Radio Shack always seemed a couple steps behind the times? When everyone else began selling Pentiums, there was Radio Shack with their Packard-Bell 386's. When everyone else began selling CDs, there was Radio Shack still hawking 8-tracks. When everyone else began selling audio cassette decks, Radio Shack was finally emptying its warehouses of all its Victrolas. At its Grand Opening in 1921, Radio Shack was hawking "The latest thing in communications!" -- 2 empty Campbell soup cans tied together by string. *rimshot* Liberator  posted on  2015-02-03   21:44:02 ET  Reply   Trace   Private Reply   #5. To: Liberator (#4) Yeah but they carried great parts for projects. Tooconservative  posted on  2015-02-03   22:29:03 ET  Reply   Trace   Private Reply   Top • Page Up • Full Thread • Page Down • Bottom/Latest

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