RadioShack Goes Bankrupt
RadioShack filed for chapter 11, but you may still find a store near you.
Even RadioShack was making fun of how outdated RadioShack was before the electronics store filed for chapter 11 bankruptcy earlier this week. However, the stores won't disappear entirely, the company is just no longer independently owned.
RadioShack operated 4,000 stores in the US. According to GameSpot sister site CNET, General Wireless, a unit of investing firm Standard General, will buy between 1,500 to 2,400 of those stores. Wireless service provider Sprint said it made a deal with General wireless to create 1,750 stores that will sell a combination of Sprint products and services and RadioShack goods.
Like another big electronics store franchise Circuit City, which tried to rebrand itself as "The City" before it went bankrupt in 2009, RadioShack previously tried to rebrand itself as "The Shack." It also reconfigured its stores, as you can see in the commercial above, but kept losing ground to online retailers like Amazon and big box stores.
RadioShack was founded in 1921, and over its lifetime sold electronics, tools for hobbyists, RC cars, and even games and consoles.
Got a news tip or want to contact us directly? Email firstname.lastname@example.org