Sears Pension Fund Requires Cash Infusions From Sears

Sears Pension Fund Requires Cash Infusions From Sears

Sears really didn’t need any more problems, financial or otherwise. Yet the company does have a problem that doesn’t involve its loss of $1.7 billion last year, run-down stores, fleeing customers, and alleged problems with suppliers? The company’s employee pension plan also isn’t doing very well, which has been another drain on the company’s finances. [More]

(Phillip Pessar)

RadioShack Consumer Data Might Be Back Up For Auction

When the venerable electronics retailer RadioShack declared bankruptcy earlier this year and prepared to sell off its assets and its business, they quietly announced one item that was legally problematic but potentially lucrative: tens of millions of pieces of customer contact information that it has collected over the years. After the Attorney General of Texas objected to such a sale, the court was told that selling that information was off the table. Now it could be back on. [More]

(Phillip Pessar)

RadioShack’s New Owners Don’t Really Care About Buying The RadioShack Name

RadioShack still exists. Well, stores that say “RadioShack” on them still exist, but those are a joint venture between the Shack’s new owners and Sprint. While the stores have kept their doors open, there’s one thing missing from the business plan: this new venture doesn’t own the RadioShack trademark yet. They aren’t too worried about it, though. [More]

Sprint Set To Make House Calls With Launch Of “Direct 2 You” Service

Sprint Set To Make House Calls With Launch Of “Direct 2 You” Service

Like doctors of yore carrying black bags filled with tools straight to an ailing person’s bedside, Sprint is rolling out its own version of the house call with a new service needlessly employing numerals instead of letters, “Direct 2 You.” Roving Sprint workers will be on the road to customers in need of help upgrading their phone, transferring information to a new device and recycling old phones. [More]

Here’s What Co-Branded Sprint-RadioShack Stores Will Probably Look Like

Here’s What Co-Branded Sprint-RadioShack Stores Will Probably Look Like

Yesterday, the sale of 1,740 remaining RadioShack stores to hedge fund Standard General was approved by a bankruptcy court. We’ve known since before the bankruptcy filing that their plan is to team up with Sprint to re-open stores that will be part phone store, part RadioShack merchandise. What would that look like? Sprint has already showed us. Well, they showed the federal bankruptcy court in Delaware, which makes them public documents. [More]

(Phillip Pessar)

Bankruptcy Court Approves Sale Of 1,740 RadioShacks To Standard General

The Great RadioShack Bankruptcy Auction Standoff may be over. The 94-year-old electronics retailer declared bankruptcy in February, and then closed around half of its stores, selling their leases. The company wanted to rid itself of the rest of its stores before April began so they won’t have to pay April rent on all of those stores out of money that should be going to their creditors. [More]

JetBlue Cancels Passenger’s Ticket For Flight He Wasn’t Even Supposed To Be On

JetBlue Cancels Passenger’s Ticket For Flight He Wasn’t Even Supposed To Be On

Anyone who has traveled frequently enough has likely had to deal with your flight being canceled or rescheduled and all the havoc that can ensue trying to keep the rest of your itinerary from being completely screwed up. But what’s a traveler to do when the airline screws up twice and cancels your ticket for a flight that you’re not even booked on? [More]

(JeepersMedia)

Have A RadioShack Gift Card? You Have One More Day To Use It

We initially reported that people with RadioShack gift cards would have to use them up by March 5 or lose the entire balance. Great news if you happen to have found one buried in the far corner of your junk drawer: RadioShack has extended the period that they’re accepting gift cards to March 31. [More]

Salus Capital Claims Shenanigans In RadioShack Bankruptcy Auction

Salus Capital Claims Shenanigans In RadioShack Bankruptcy Auction

Last week, it seemed like the bankruptcy auction for what’s left of RadioShack would be pretty straightforward. Standard General, one of the chain’s biggest lenders, would put up a small amount of cash and a large amount of their own debt to take over about 1,700 stores. Another lender called shenanigans on the whole sale, offering a cash bid and claiming that it was superior. Now the auction enters week 2. [More]

(Boss Meg)

JetBlue System-Wide Computer Failure Leads To Long Lines, Delays

If you’re stuck in a long line at the airport right now, you’re not alone: JetBlue’s computer system failed this morning, forcing the airline to check all its passengers in manually. [More]

(Phillip Pessar)

Good News: RadioShack Says Consumer Information Isn’t Part Of Bankruptcy Auction

Earlier this week, we reported that the one of the assets of the former RadioShack empire up for sale is the tens of millions of names, mailing addresses, phone numbers, and e-mail addresses that the retailer has collected from its customers. Many states’ attorneys general objected to this possible sale, noting that it may violate Texas law and the company’s own privacy policies. Fortunately, that consumer data is not yet for sale. [More]

Walmart Entices Shoppers To Try Online Grocery Pickup With Discounts

Walmart Entices Shoppers To Try Online Grocery Pickup With Discounts

Does the idea of placing an online grocery order at Walmart and then simply visiting the store to pick it up appeal to you? Walmart is now experimenting with a few pilot stores where you can do just that, and now they’re experimenting with special discounts to get customers to try it out. [More]

Now There’s A Bidding War For The Smoldering Remains Of RadioShack

Now There’s A Bidding War For The Smoldering Remains Of RadioShack

Since RadioShack finally declared bankruptcy last month, the assumption has been that Standard General, a hedge fund that has lent the Shack large amounts of money for its failed comeback attempt, would win the bankruptcy auction. They would buy 1,700 or so of the stores that are left, along with RadioShack’s brand. Now a different lender has joined the bidding, but claims that the auction favors Standard General. [More]

(Nicholas DiMaio)

Toys ‘R’ Us Can’t Beat Discounters On Price, Invites Everyone Over For Play Dates

Toys ‘R’ Us has a problem: they’re a specialty store that people love, but they must compete with mega-discounters like Walmart and online vendors like Amazon on price. When they can’t do that and still make money, how are they to survive? The company’s new idea: get kids in the door by creating an experience, not just a place to buy toys. [More]

(Nicholas Eckhart)

RadioShack Bankruptcy Auction Continues: Unsecured Creditors May Not Get Much

Today is day 2 of the RadioShack bankruptcy auction. While selling the assets of a company that was once worth billions of dollars that still has thousands of stores isn’t a simple endeavor, the proceedings are going even slower than anticipated because other creditors object to the current high bid from Standard General. [More]

(Atwater Village Newbie)

Kiosk That Copies And Stores Keys Expands To Lowe’s Stores, Your Smartphone

A few years ago, we shared the news that a company had placed do-it-yourself key duplication kiosks in some 7-Eleven stores in New York City. Since then, key kiosks (keyosks?) have expanded across the country, and the company that we wrote about back in 2013 has announced a deal with home-improvement megastore Lowe’s. [More]

Sears Promises Early Payment To Vendors, Ties Up Cash Flow

Sears Promises Early Payment To Vendors, Ties Up Cash Flow

While Sears struggles to get customers into its stores and lost $1.7 billion last year, the retailer is also encountering problems in keeping its shelves stocked with merchandise. The company’s vendors are reportedly nervous to ship to the retailer given its poor financial results and touchy cash flow situation. Vendors are asking Sears to pay their bills sooner in exchange for a discount. This ties up tens of millions of extra dollars’ worth of capital up at a time. [More]

(Phillip Pessar)

RadioShack Franchisees Don’t Want Surprises In Corporate Bankruptcy

While RadioShack has declared bankruptcy and plans to liquidate, closing or maybe continuing to exist in a co-branded venture with Sprint. However, there are about 700 RadioShack stores that are doing okay. These stores are dealers and franchisees, stores that carry RadioShack merchandise and perhaps their brand, but might sell other merchandise too. The bankruptcy of RadioShack has some terrible effects on these merchants, and they’re working together to make sure that they aren’t hurt as parts of RadioShack are sold off. [More]