Main | Thursday, February 05, 2015

Radio Shack Calls It Quits

Radio Shack is filing for bankruptcy but the brand won't disappear entirely. Via Bloomberg:
In the agreement, the Radio Shack brand would continue as a store-within-a-store concept at locations acquired by Sprint, said the person, who asked not to be identified because the talks are private. The retailer now expects to sell 1,500 to 2,400 stores to Sprint and Standard General LP, its biggest shareholder, according to the person. The rest of the locations would be closed, the person said. Merianne Roth, a spokeswoman for Fort Worth, Texas-based Radio Shack, didn’t immediately respond to a request for comment. The Radio Shack talks had been expected to lead to a filing as soon as Wednesday night, though the complexity of the negotiations have delayed the move, another person familiar with the discussions said.
Radio Shack currently operates 5500 locations.

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