In a bankruptcy auction, creditors want to extract as much money as they can from the company’s remaining assets that have any value. Recognizing that “Radio Shack” is a brand that people at least recognize, the company’s lawyers announced today in court that its name and intellectual property will sell separately from the store leases. [More]
radioshack death watch
Sale Of 1,100 Radio Shack Leases Approved
By 2.20.15
Hey, buddy. Want to rent an abandoned Radio Shack? The quasi-relevant electronics chain received approval from the bankruptcy court today to sell off 1,100 store leases. These stores are open for bidding by anyone interested in taking over the lease––in some locations, Radio Shack has already held store-closing sales and taken off so they won’t have to pay rent in March. [More]
RadioShack Creditors Question Bankruptcy Timing
By 2.18.15
Experts and ordinary shoppers alike have been predicting the demise of RadioShack for some time now. The only question was when it would happen. A rescue financing package kept the company going for a while longer, but the company’s creditors allege that there was a very important reason for that: to line the pockets of lenders and distressed debt traders. [More]
RadioShack Proposes Up to $3 Million in Employee Bonuses To Bankruptcy Court
By 2.11.15
RadioShack isn’t going out of business forever (yet), but instead may live on as a brand in co-branded stores with mobile provider Sprint. the electronics chain is holding liquidation sales in many of the stores they’re working to close. Yet at the same time that the company is preparing to shut about half of their stores, they’ve sought permission from the bankruptcy court to pay out about $3 million in bonuses. [More]
Here’s A List Of Proposed RadioShack Store Closings
By 2.6.15
No one who has been paying attention to retail news is surprised that RadioShack filed for Chapter 11 bankruptcy protection yesterday, and that the chain plans to close about half of its stores. Yet you may be wondering: what if I need a soldering kit or a cordless phone battery at 4 P.M. on a Friday? How many of the Radio Shacks near me are going out of business? [More]
There Are Some RadioShack Stores That Are Very Successful
By 2.6.15
The last week has been full of RadioShack-related doom, from the New York Stock Exchange starting to delist the company to rumors of its inevitable bankruptcy and its actual bankruptcy. What most people don’t realize when joking about the doomed nature of Radio Shack, though, is that there are about a thousand Radio Shack-branded stores that are doing quite well, and will continue to do so even if the Shack brand disappears. They’re small-town retailers that serve as Radio Shack dealers. [More]
Yep, RadioShack Declared Bankruptcy Today
By 2.5.15
In a completely unsurprising piece of news, RadioShack, a retailer that used to periodically sell some electronics, has filed for Chapter 11 bankruptcy, as predicted. Negotiations earlier this week resulted in an agreement where wireless carrier Sprint will take over about half of the chain’s stores, and the other half will close. [More]
Mall Owners Will Really Miss RadioShack
By 2.5.15
RadioShack no longer serves an important role in most American consumers’ everyday lives. Yet one group will miss the chain quite a bit: mall developers, who will need to find replacement tenants for about 2,000 current Shacks that are expected to close. [More]
Report: Amazon Wants To Buy Some RadioShack Stores, Too
By 2.3.15
RadioShack built its brand by creating a vast nationwide network of stores across the country: they still have 4,300 of them, which has been a significant burden for the company as it has struggled to stay relevant and make money. As the Shack prepares to declare Chapter 11 bankruptcy, those stores are a tempting asset for other retailers looking to expand their retail footprints, like mobile carrier Sprint…and now Amazon. [More]
NYSE Will Delist Radio Shack Even Sooner Than Anticipated
By 2.2.15
Earlier today, Bloomberg News cited two unnamed sources who said that doomed electronics retailer RadioShack was in talks with Sprint to sell about half of its 4,300 retail locations to the mobile phone company and close the rest. After sending the company a letter warning that it could be delisted, the New York Stock Exchange has now started the process to kick the company off the exchange. [More]
RadioShack Negotiating To Close Half Of Its Stores, Sell The Rest To Sprint
By 2.2.15
Is it possible for RadioShack to survive? Experts believe that the 94-year-old company is going to declare bankruptcy in the coming weeks, but what are its plans after that? One report from inside the pre-bankruptcy negotiations is that the retailer plans to sell about half of its store leases to Sprint, turning them into Sprint stores, and shut down the rest. [More]
RadioShack Even More Doomed Than Previously Thought
By 12.29.14
It was once incredibly valuable for RadioShack to have a dense network of small stores in communities across the country. Now that the company is in financial trouble and struggling to find a business model and an identity, having more than 5,000 stores is a huge burden. The company can’t afford to keep all of the stores open, but it can’t afford to close them, either. [More]
RadioShack Will Stop Matching Workers’ Retirement Contributions Next Year
By 12.5.14
RadioShack, the electronics retailer that once called itself “America’s Technology Store” and now wants to repair your cracked iPhone screen, is willing to try just about anything to stay in business. While they negotiate with lenders for permission to close more stores, the chain announced that it will end matching contributions to employees’ retirement plans as of February 1, 2015. [More]
