RadioShack Filed For Bankruptcy….Again
As we discussed on the latest edition of Cocktail Investing, we’re not really shocked that RadioShack is once again filing for bankruptcy. Between the move to digital commerce that has weighted on foot traffic into RadioShack stores and the near disposable nature of many consume electronics today, it’s not been an easy road for the company. Leveraging its future to smartphones likely provided an inital boost, but selling the same smartphones as Best Buy and mobile operator stores like those from AT&T, Sprint and Verizon means your offering is more or less a commodity. We know we saw it coming, but we have to wonder if RadioShack management saw the Connected Society headwind it was dealing with?
For the second time in 25 months, electronics retailer RadioShack has filed for bankruptcy protection. The first time around, The Shack closed just over half of its stores, partnering with Sprint to keep the rest open and preserve thousands of jobs. This week, the company formed to keep the brand going sought permission from the bank to close between one-third and all of its stores.
By the way, if you have any gift cards for RadioShack around, including cards for the original version of the company before the bankruptcy, you have until April 7, 2017 to cash them in
Source: RadioShack Wants To Close Somewhere Between 530 And All Of Its Stores – Consumerist
