RadioShack may sell half its stores to Sprint, close the rest as part of bankruptcy plan

[Shawn Knight]

RadioShack’s days in retail may soon come to an end. The iconic electronics retailer is preparing to sell nearly half of its retail stores to Sprint and shutter what’s left over according to people familiar with the matter as reported by Bloomberg.

As part of a bankruptcy deal, Sprint would take over select retail locations and operate them under their name. Such an outcome would mean the end of RadioShack as a brick-and-mortar retailer although nothing has been set in stone as of writing.

Another possibility that’s on the table is co-branding between the two parties or perhaps another buyer could enter the equation and keep the retail locations running. Sanpower Group, the Chinese backers that pulled Brookstone out of bankruptcy, are said to be interested in the stalwart's assets.

The publication notes that terms of the deal could change or negotiations could break down completely.

RadioShack got started way back in 1921 as a mail-order retailer for amateur ham-radio operators and maritime communications officers. Over the next several decades, the company expanded its product catalog to include a wide array of electronics. By the 1980s, the store was perhaps the go-to destination for computers, gadgets and other hard-to-find electronics.

The problem is, it never transitioned to the '90s and beyond as retailers like Best Buy and Fry’s as well as a bevy on e-commerce operations have all put the final nail in the coffin.

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https://www.techspot.com/news/59615-radioshack-may-sell-half-stores-sprint-close-rest.html

 

[JakeT]

Finally. Radio Shack used to be called Radio Scrap here, and deservedly so. They've re-branded their stores here in Canada to The Source but they sell exactly the same crap as before. Cheap toys, gadgets and an overall unenlightening store experience is what they were good at. Good riddance.

 

[drjekelmrhyde]

If the Chinese buy it, I hope they sell things as cheap as they sell components online(Amazon). If they sell cheap replacement cell phone and tablet screens, cell batteries and other stuff they will kill.

 

[seefizzle]

Good riddance. Everything in that store is overpriced. There is no point in going there. I'd rather chew my own arm off than go to a Radio Shack.

 

[tipstir]

I use to manage a few of they're stores down here in the late 80's to 90's. Back then they were top of the hill. Stores like them and Lafayette Electronic Store (also gone bust) Crazy Eddie NYC (also gone bust). Poor Radio Shack they just couldn't compete with Best Buy, Circuit City (also gone bust), Service Merchandise (also gone bust), Best (also gone bust). So many have gone. Radio Shack days are at end.

 

[cliffordcooley]

I think stores like Walmart (common chain in this area) were their biggest competitor. People choose to buy from places they are already at, than shop around dozens of locations. And unless you have all day to walk around malls were everything is in the same location, you will likely only shop the bigger cheaper outlets. That is unless you have a specific need in visiting the smaller more expensive outlet. Radio Shack had very little over the larger outlets.

 

[EClyde]

They had everything except reasonable prices and customer service

 

[Renrew]

I never really minded going the extra mile to a Radio Shack, ----until their customer service became non-existent, their prices outrageous and their product quality extremely poor.

They were the Architects of their own demise and deserve to be on the trash heap of history, along with the other companies that tried to play their customers for fools.

 

[captaincranky]

I never really minded going the extra mile to a Radio Shack, ----until their customer service became non-existent, their prices outrageous and their product quality extremely poor.
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I'm 66, and I can't seem to remember a time when that wasn't the case....

I wonder how many stores they'll have to close before anybody actually misses them.......