Thursday, March 19, 2015

RadioShack Makes Deal to Sell More Than Half its Stores

Working under the reorganization rules of Chapter 11 of the federal bankruptcy laws, RadioShack reportedly has reached an agreement with General Wireless, Inc. to purchase as many as 2400 its 4000+ company-owned stores. Many others will be closed. 

According to the ARRL Letter, General Wireless – which is affiliated with RadioShack creditor Standard General – has reached an agreement in principle with to open “store within a store” Sprint wireless retail locations in up to 1750 of its newly acquired RadioShack stores.

There is no indication of whether these stores would continue to operate under the RadioShack name or if they would continue to sell electronic components and other products favored by hobbyists.