(Source: ARS Techinica via WSJ)
“It’s a move many have predicted for some time: RadioShack is probably going to file for bankruptcy protection.
According to a Wall Street Journal report citing unnamed sources, the cash-poor retailer could submit its filing as soon as February 2015. A RadioShack spokesperson e-mailed Ars to say, “We decline to comment except to say that RadioShack has not confirmed any of the information that is being reported.” The Texas-based firm did not deny the Journal’s report, however.
Bankruptcy protection wouldn’t necessarily mean that RadioShack intends to go out of business. Rather, it would mean RadioShack would be given a certain period of time to rebuild itself and shield itself from creditors.”
On the positive side, I’ve heard from several readers that they’ve found deals at RadioShack on radios and components/soldering equipment recently. If you have a RadioShack near you, check in frequently.
All of the stores around Houston appear to be closed already, as well as a store in North Austin.
I’m just surprised it didn’t close sooner. Like 15 years ago. Radio Shack had a few problems. One was the poor brand image. Yes there was a time when they did focus on radio, but over the years they knew they could not survive on this alone. But while they did have other product lines. They image of “radio” was the problem. In Canada when all locations were renamed The Source. A new brand image was created. The last time I visited a Radio Shack was in 2012. Three different locations, in three different states. They looked more or less the same as they did the last time I bought something from them in 1991. The interior design of the shops was old and tired looking.
I don’t know how many remember the Philips high end series FR100s of sound systems in the 90s. The then head of sales for North America told me back then he was surprised they were still in business. The Radio Shack brand needed a re-launch and a new image. But that was never done.
I’m sorry to read Radioshack is in such trouble We used to have their shops over here and it was a bummer to lose them IMHO even though I was a kid when it happened. Fingers crossed they manage to pull together.
At my local Radio Shack, everything in the store is now 50% off. It is clear that store will be closing very soon, and I don’t see any way the chain survives without big changes.