Monday, March 10, 2014

RadioShack to Close 1100 Stores

Chances are there's a RadioShack store near you. But there's now about a one in five chance that there won't be one there much longer. The struggling electronics chain announced plans in early March "to close up to 1,100 underperforming stores," as it released financial reports showing it suffering a $400 million net loss in 2013, with nearly half of that coming in the fourth quarter alone.

Hams have long relied on the chain as a source for components, and in the past, for ham gear, shortwave receivers and scanners as well. In recent years, RadioShack has put a greater focus on mobile phones and accessories, a market that has softened recently, as new purchases have given way to replacements and upgrades. One recent bright spot for hams has been a new focus on kits and building, in response to the growth of the maker movement.