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Radioshack Declares Bankruptcy

Posted by samzenpus on from the end-of-the-line dept.

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."

3 of 294 comments (clear)

  1. consumerism wins! by Anonymous Coward · · Score: 5, Insightful

    That's what happens when nobody builds or repairs anything anymore ever. Throw it away, buy a new one. Luckily the corporate consumerists haven't adopted the same strategy yet, or we'd be seeing massive layoffs and turnover.

  2. Re:The Canadian arm of the business is stil operat by Pope+Hagbard · · Score: 5, Insightful

    Different management team.

  3. You younglings don't get it! by the_skywise · · Score: 5, Insightful

    Before cell phones, before the internet, before computers... heck before REMOTE CONTROLS FOR YOUR TEEVEE!

    Radio Shack was THE place for geeks to hang out. Kinda like a micro-Fry's in every mall. My dad swore by the Realistic stereos (I never did but when the only other alternatives at the time were Sears or JCPenney's for stereo receivers... They held up pretty well.) I cut my teeth on a TRS-80 Model 1 (Of course I promptly pooh-poohed it for the TRS-80 Model II because it's still true that geeks don't handle obsolescence well! Christmas was asking for the 150 electronics project kits or other gadgets.

    Sure, it sucks now and we don't seem to live in a time where people play with electronics or chemistry sets anymore but a time where people are content to watch what the kardashians are up to and re-tweeting it on their phones because, gosh darn it, math is hard.

    And now I watch as Radio Shack sells off to the Undying Lands. It's better this way anyway, it was a lousy cell phone store and the last time I went in there to buy a pair of speaker stands, to match the set I had purchased in that store 5 years earlier, I was told by the new kid manager that they don't have *and never sold* speaker stands.

    yah... Fare thee well...

    NOW GET OFFA MY LAWN!!!!