At this time last year, we were on RadioShack Bankruptcy Watch, waiting for the venerable electronics retailer to file for Chapter 11 protection. Would it mean the end of RadioShack stores nationwide, or would the brand survive? One of the company’s major creditors purchased around half of the chain’s stores, creating a new company that would buy the RadioShack name in the bankruptcy auction, and the new RadioShack hired a former Dell executive as CEO in April. Now CEO Ron Garriques is taking off. [More]
While it seems like the major players in the travel industry are constantly coming up with new ways to charge customers more money, travelers flying on United Airlines can say good-bye to at least one fee: the carrier announced it’ll no longer charge a hardship refund fee of $50.
All of RadioShack’s stores have been either shut down or sold and have now re-opened to sell only Sprint phones alongside batteries. Yet the owner of those stores, Standard General, didn’t negotiate to buy the RadioShack brand name along with the stores. It will be auctioned in May along with the rest of the company’s intellectual property, which includes the Radioshack.com URL and their mailing lists. Standard General may bid on the brand name, but they obviously don’t think that it’s very important. [More]
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]
Fans of Caribou Coffee might want to start loading up on caffeine now, as the Minnesota-based company confirmed today that it’s closing down 88 locations around the U.S. A further 80 will undergo a rebranding makeover and re-emerge as Peet’s Coffee & Tea sometime in the next year or so.
What the heck, did you guys strike early, and target the wrong wireless carrier? The day before the possibly-ill-conceived “Operation Chokehold” is supposed to bring AT&T’s wireless network to a standstill, T-Mobile steals all the bad press by going out this evening across large parts of the Southeastern US and Puerto Rico.
Update: Immediately after posting this, T-Mobile announced the service was back up.