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]
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Good News: RadioShack Says Consumer Information Isn’t Part Of Bankruptcy Auction
By 3.27.15
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]
RadioShack’s Future Comes Down To Saving Jobs Or Raising Cash For Lenders
By 3.26.15
What is the purpose of auctioning off the assets of a company that has declared bankruptcy? Is it to keep some form of the company in business to keep workers employed, or is it to raise as much money as possible for creditors in order to make a dent in their losses? That’s the question in RadioShack’s bankruptcy auction. Bids are supposed to be finalized today, and there are two competing high bids: one that will keep a large number of stores open, and one that will raise cash for lenders. [More]
Your Personal Data Could Be For Sale In RadioShack Bankruptcy Auction
By 3.24.15
Have you handed your name, address, e-mail address, or phone number over to RadioShack as part of a purchase or, inexplicably, when you returned an item that you bought with cash? As the bankruptcy auction of the smoldering remains of The Shack continues into its second day, we’ve learned that one of the assets for sale is RadioShack’s customer list, which includes more than 65 million mailing addresses and more than 13 million e-mail addresses. Update: The bankruptcy auction’s privacy ombudsman says that customer information isn’t for sale. Yet. [More]
RadioShack Bankruptcy Auction Continues: Unsecured Creditors May Not Get Much
By 3.24.15
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]
RadioShack Buyer Plans To Donate Art And Company Archives
By 3.23.15
You probably don’t normally associate the phrases “valuable art collection” and “RadioShack,” but the headquarters building that opened just ten years ago has some lovely artwork, valued at $500,000 but possibly worth more at auction. Standard General, the presumed winner of the auction for the RadioShack brand and many of its stores, plans to donate these artworks and the corporate archives to local corporate institutions. [More]
AT&T Asked RadioShack To Destroy Customer And Proprietary Information
By 3.23.15
The auction for the smoldering remains of RadioShack is happening right now at the offices of the company’s attorneys in New York City, and something caught our attention while we wait for news about the winning bidders and future of the Shack and its stores and employees. AT&T has filed an objection to the proceedings in court, asking RadioShack to destroy any sensitive information about customers and AT&T itself. [More]
Today’s Bankruptcy Auction Will Decide RadioShack’s Fate
By 3.23.15
On Monday, Radio Shack will forever cease to be the retailer it once was, and will turn into something different as the result of a bankruptcy auction. Exactly what will emerge from the ashes depends on the bidders bellying up to bid on the chain’s remains. [More]
Only One Bidder For Radio Shack’s Remains Wants To Keep Any Stores Open
By 3.20.15
In the bankruptcy auction for the smoldering remains of RadioShack, only one bidder is interested in keeping the chain open as a business. That’s Standard General, which also happens to be the lender that bailed out the company last year in a last-minute attempt to save the business. [More]
RadioShack Franchisees Don’t Want Surprises In Corporate Bankruptcy
By 3.17.15 — Updated: 5.30.17
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]
RadioShack Selling Name Separately From Stores: Bids Start At $20 Million
By 2.25.15
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]
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 The Profane Goodbye Ad RadioShack Should Air To Everyone Laughing At Its Doom
By 2.9.15
As you’re no doubt aware, increasingly irrelevant retailer RadioShack — whose image was so mired in the 1980s that it included Hulk Hogan and Cliff Clavin in a 2014 Super Bowl ad — declared bankruptcy last week and plans to close thousands of stores across the country. The news has been received by many, including myself, with a shrug, but is that any way to treat a company that’s been around for nearly a century? [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]
