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RadioShack Closes 200 Stores with More Expected

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4 stores in Central Florida closing

The electronic store that began as a ham radio store and, it is said, sold Bill Gates his first computer 40 years ago has now announced it will immediately close 200 stores.

RadioShack has filed for bankruptcy and the company announced they will close 200 stores and are evaluating options for the remaining 1300 stores.

“For nearly 100 years, RadioShack has proudly served local communities across the United States, offering consumers unique, high-quality products at a great value,” said Dene Rogers, RadioShack’s President, and Chief Executive Officer. “Over the course of the past two years, our talented, dedicated team has worked relentlessly in an effort to revitalize the Company and the RadioShack brand, while providing outstanding service to our customers. We greatly appreciate their hard work and dedication.”

He continued, “Since emerging from bankruptcy two years ago as a privately owned company, our team has made progress in stabilizing operations and achieving profitability in the retail business, while our partner Sprint managed the mobility business. In 2016, we reduced operating expenses by 23%, while at the same time saw gross profit dollars increase 8%. Over the same time, we integrated FedEx pickup/drop-off into 140 RadioShack locations, delivered to customers over 700,000 Hulu login pins and sold more than a million RadioShack private brand headphones and speakers delivering high quality, value- based audio products to consumers across the country. However, for a number of reasons, most notably the surprisingly poor performance of mobility sales, especially over recent months, we have concluded that the Chapter 11 process represents the best path forward for the Company. We will continue to work with our advisors and stakeholders to preserve as many jobs as possible while maximizing value for our creditors.”

Founded in 1921, RadioShack is owned today by General Wireless Operations Inc., which acquired the storied brand in April 2015. The new RadioShack has over 1,500 company-owned stores, including 1,200 Sprint Stores at RadioShack, and 425 independent dealers located nationwide.

There are 13 RadioShack stores in Central Florida. Four of them are closing, including a store at 600 South Hunt Club Boulevard (The Hunt Club Corners Shopping Center) in Apopka which is holding an inventory clearance sale. The SprintStore inside will remain open.

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