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  1. #1 RadioShack files for bankruptcy 
    Sin City Moderator RobJohnson's Avatar
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    FORT WORTH, Texas, Feb. 5 (UPI) -- Half of RadioShack's 4,000 stores will close under a reorganization plan announced Thursday as the company filed for Chapter 11 bankruptcy.
    The survivors will be operated by Standard General LP, a hedge fund and the largest holder of RadioShack stock, and the telecommunications giant Sprint Corporation. The agreement calls for Standard General to take over 1,750 to 2,500 stores.

    The company, headquartered in Fort Worth, Texas, filed its petition in U.S. Bankruptcy Court in Delaware, listing assets of $1.2 billion and debts of $1.39 billion. RadioShack has posted losses of $1 billion in the past three years, and sales have continued to slide.


    Read more: http://www.upi.com/Business_News/201...#ixzz3QyDOYVFW
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  2. #2  
    Sin City Moderator RobJohnson's Avatar
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    It's no surprise that a store with the name "radio" in it's name will not survive the digital age.

    I have great memories of Radio Shack growing up. I used to get one free battery every month from one of their shopping mall stores in IL and I even built my own AM radio with a kit from RS.
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  3. #3  
    Power CUer noonwitch's Avatar
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    I'm not really surprised to see this.


    There are some bandits in suburban Detroit that have been targeting Radio Shacks for robberies, because the stores are usually pretty empty during business hours. Now, who are they going to go after?
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    Sin City Moderator RobJohnson's Avatar
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    Quote Originally Posted by noonwitch View Post
    I'm not really surprised to see this.


    There are some bandits in suburban Detroit that have been targeting Radio Shacks for robberies, because the stores are usually pretty empty during business hours. Now, who are they going to go after?
    We have a company owned store in our town that does pretty good. One advantage to them is we do not have any big box electronic stores unless you want to drive to the big city.

    Radio Shack has diversified (or tried to) over the years and I just seen on the news that Sprint is actually taking over a few of the store fronts & buildings.

    One of my highlights when I was a child was stopping in at the mall and asking for their new catalog every year, I used to study that thing. I loved all the DIY electronic kits. I remember several stores that had a Tandy Leather store attached to them.

    My very first cell phone was purchased from a Radio Shack in 1993.
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    eeeevil Sith Admin SarasotaRepub's Avatar
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    Quote Originally Posted by RobJohnson View Post
    It's no surprise that a store with the name "radio" in it's name will not survive the digital age.

    I have great memories of Radio Shack growing up. I used to get one free battery every month from one of their shopping mall stores in IL and I even built my own AM radio with a kit from RS.

    Yep. I did the same...
    But in Jersey.
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  6. #6  
    Sin City Moderator RobJohnson's Avatar
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    Quote Originally Posted by SarasotaRepub View Post
    Yep. I did the same...
    But in Jersey.
    They always had the cool stuff. My dad would buy parts to fix electronics from them.
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  7. #7  
    Senior Member Dori's Avatar
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    Quote Originally Posted by noonwitch View Post
    I'm not really surprised to see this.


    There are some bandits in suburban Detroit that have been targeting Radio Shacks for robberies, because the stores are usually pretty empty during business hours. Now, who are they going to go after?
    Same here. I wondered a long time ago how they stayed in business. No one ever seemed to go in there.
    Obama isn't the problem. The problem is an electorate that would vote a man like him into office.
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  8. #8  
    Sin City Moderator RobJohnson's Avatar
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    Quote Originally Posted by Dori View Post
    Same here. I wondered a long time ago how they stayed in business. No one ever seemed to go in there.
    We had a leased franchise store that did not last long. The company owned store does really well, I think they simply do better in smaller towns.

    Back in a small town in IL there was a franchise store that did really well. They also sold televisions, direct tv & dish network subscriptions, cell phones for almost all of the major carriers and they were always busy! Some of their radio shack inventory appeared to be about ten years old or older. The store had wood floors as the downtown building was over 100 years old. They even had a repair service for televisions, etc. The prices were very fair & I think they sold more new televisions then the Wal Mart in the same town.

    They were in business for 100 years, even though I knew this day was coming it's still sad to see they had to file BK.
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  9. #9  
    Senior Member Dlr Pyro's Avatar
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    sad to see it go. Other long term stores like Sears and JC Penny are just barely hanging on and will probably go by the wayside soon.
    The price of freedom is something the protected will never know.
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  10. #10  
    Senior Member Dori's Avatar
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    Quote Originally Posted by RobJohnson View Post
    They were in business for 100 years, even though I knew this day was coming it's still sad to see they had to file BK.
    That's how I felt about a hardware store I always shopped in. They went out of business after a Home Depot went in.
    Obama isn't the problem. The problem is an electorate that would vote a man like him into office.
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