Radio Shack Files For Bankruptcy
The historic electronics chain lists assets of $1.2 billion and debts of $1.39 billion.
The company struggled in recent years as the wireless business became more competitive and items like batteries and accessories became easier to buy online and in big-box stores. It also suffered a decade of missteps from a revolving door in the C-suite.
RadioShack posted losses that totaled $1 billion over the last three years and double-digit sales declines. The mobile phone and wireless contract business represented half of the company’s sales in recent years, but that side of the store has continued to burn cash.
Competition has accelerated not just from the wireless carriers AT&T and Verizon, but also from Wal-Mart, Costco and Best Buy.
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8 responses to Radio Shack Files For Bankruptcy
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neworleans878 February 5th, 2015 at 17:50
This gives me the sads. I was raised on Radio Shack. ;(
Larry Schmitt February 6th, 2015 at 07:58
Whenever I see a story like this, I have a bit of sympathy for all the employees. It’s not much of a job, but a job’s a job. Now there will be several thousand additional people looking for some way to make a little money.
nola878 February 5th, 2015 at 18:50
This gives me the sads. I was raised on Radio Shack. ;(
Larry Schmitt February 6th, 2015 at 08:58
Whenever I see a story like this, I have a bit of sympathy for all the employees. It’s not much of a job, but a job’s a job. Now there will be several thousand additional people looking for some way to make a little money.
rg9rts February 6th, 2015 at 05:17
Like everyone has a costco in their back yard.. and I’ll NEVER go to walmart…
rg9rts February 6th, 2015 at 06:17
Like everyone has a costco in their back yard.. and I’ll NEVER go to walmart…
Mike February 6th, 2015 at 12:45
OK, I’m a tech geek and do it yourselfer. I’m really gonna miss RS if they go under. Sure I can get everything online but it’s great to go there and get some ideas while you’re looking around and talking with other techies (all much younger and many times more knowledgeable than I am.)
Mike February 6th, 2015 at 13:45
OK, I’m a tech geek and do it yourselfer. I’m really gonna miss RS if they go under. Sure I can get everything online but it’s great to go there and get some ideas while you’re looking around and talking with other techies (all much younger and many times more knowledgeable than I am.)