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Radioshack Declares Bankruptcy
gemtech writes RadioShack has declared bankruptcy today. As reported Monday, the company has struck a deal to sell up to 2,400 of its approximately 4,000 stores to Sprint. From the article: "RadioShack said the remaining stores are expected to close. The company's franchise locations, as well as stores in Mexico and Asia, are not included in the deal. The bankruptcy announcement is no surprise. The New York Stock Exchange suspended trading of its shares on Monday. And RadioShack workers have told CNNMoney that some locations have already been converted to clearance stores."
I stopped shopping there long ago because they stopped stocking anything useful. I don't need a cellphone from them, I needed parts, which they no longer carry.
Some stores no longer carry parts, and some carry a reduced inventory. But some stores still carry a decent supply of components ans similar small, useful items. We have two Radio Shack stores in the closest city; one is essentially useless and simply directs me to the other store (but I frequently try it anyway, since it's the closer of the two). The other one isn't half bad, and almost always has what I need. I shall certainly miss it if it goes away.
Fry's? Ha ha, they're in financial trouble, too. Only they're not being stupid about it. Distributors don't want to give them merchandise on credit these days, so a lot of the stuff on the shelves Fry's has already paid for. And if you've been in one lately, you'll probably notice a lot of shelves are now filled with cheap crap from China... low overhead, high profit, and best of all, keeps the place from looking empty.
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