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[XiaNaphryz]

https://www.bloomberg.com/news/arti...cessor-said-to-be-preparing-bankruptcy-filing

General Wireless Operations, the RadioShack successor created by a partnership between Sprint Corp. and the defunct retailer’s owners, is preparing to file for bankruptcy, according to people familiar with the matter.

A filing could happen within the coming days and will probably result in liquidation, said the people, who asked not to be identified because the process isn’t public. The beleaguered company, which does business as RadioShack, operates outlets that share space with Sprint’s retail locations, as well as franchising the name to other stores.

The bankruptcy would deal another blow to the RadioShack brand, an almost-century-old source of electronics that struggled to compete with online merchants and big-box retailers. The General Wireless venture was designed to help the RadioShack name live on following the demise of the original chain. But pressures on the business, including sluggish foot traffic at shopping centers and a shift to e-commerce, have persisted.

RadioShack Corp. filed for bankruptcy in 2015. The company closed about half of its 4,000 stores and sold 1,700 to creditor Standard General LP, which teamed up with Sprint to form General Wireless. The deal created 1,400 co-branded locations with Sprint, plus several hundred franchised units.

Sprint, the fourth-largest U.S. wireless carrier, declined to comment. Standard General, an investment firm that previously backed American Apparel, didn’t have an immediate comment.

 

[Miker]

I blame Nick Cannon.

 

[ElectricBlanketFire]

The TNA wrestling of electronics stores.

They're about to get a bump though with Stranger Things season 2.

 

[Randolph Freelander]

A couple more times of this and they'll be elected President.

 

[AlexMeloche]

The company that won't die.

 

[Sephzilla]

The TNA wrestling of electronics stores.

genuine lol

 

[Skatterd]

A couple more times of this and they'll be elected President.

 

[fluffydelusions]

TBH, I can't believe they have been around as long as they have been. Outside of mobile phone stuff it seemed like all they carried was offbrand electronics stuff and everything is so overpriced. Like you could go to pretty much any other retailer and get a namebrand product that is better and cheaper

 

[Gray Matter]

There's still a RadioShack in a plaza near where I live. I've been in there once and this asshole I went to high school with worked there.

 

[ahoyhoy]

A couple more times of this and they'll be elected President.

Yoooo

 

[Head of Vengarl]

I blame Nick Cannon.

A couple more times of this and they'll be elected President.

ayyyy

 

[Snowblindvictim]

A couple more times of this and they'll be elected President.

.

 

[GTI Guy]

A couple more times of this and they'll be elected President.

LOL

 

[Zeshile]

At this point, just let it die. There is nothing to save.

A couple more times of this and they'll be elected President.

Too good.

 

[Used-ID]

RadioShack, the Atari of retail stores...

 

[Noisy Ninj4]

At this point, just let it die. There is nothing to save.

Been nothing worth saving for quite some time.

Having worked for radioshack a while ago, I can say that prior to 2008 they still had a chance for redemption by dropping or deemphasizing their mobile stuff and focusing on what actually separated them from the competition. Drop the old consumer electronics that no one bought and go for parts, batteries, and downsize stores into booths. Would've saved a lot of money and time.

Instead they continued snorting coke and buying into fads 6 months too late. Business as usual.

 

[bootsthecat]

I'll never forget going in there as a kid and seeing those Tandys. I drooled all over those things whenever I got the chance. Sad to see what became, but seems they did it to themselves.