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RadioShack Files for Bankruptcy

submitted on February 5, 2015 by HouTex in "Stores / Merchants"
After a long, slow decline RadioShack has filed for bankruptcy. The 94-year-old company reported 11 straight quarterly losses (since 2011). It began in 1921 as a mail-order retailer for amateur ham-radio operators and maritime communications officers. Then Tandy Corp. bought them in 1963. By the 1980's they carried a wider range of products and became a destination for personal computers, gadgets and components that were hard to find elsewhere. They were one of the first retailers of mobile phones.

Now they're planning to turn about half of their 4,000 stores into Sprint Corp. locations and close the rest. Sprint says it has over 1,100 company-owned retail stores, and this agreement would more than double that number if the deal is approved by the bankruptcy court.



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