RadioShack says failed Sprint deal led to bankruptcy filing

RadioShack Second Bankruptcy to Close 200 Stores, Sources Say

RadioShack Successor Enters Bankruptcy as Retail Woes Persist

Electronics store RadioShack filed for a second bankruptcy in two years, forcing the retailer to close down 200 stores.

The electronics chain now operates 10 stores in Western Mass., and one store in Worcester and over 30 in the eastern part of the state.

The company has not identified which locations these will be, or what will come of the remaining RadioShack stores, though Sprint claims it will provide job opportunities elsewhere for those Sprint employees now working at the stores-within-stores at RadioShacks.

RadioShack is owned by a hedge fund which acquired its trademark and many of its stores following the 2015 bankruptcy.

Several hundred stores will be converted to Sprint stores, CNN reported.

Sprint began pulling its wireless product displays from some RadioShack stores in recent days in a sigbn that the partnership was crumbling.

RadioShack, based in Fort Worth, Texas, filed its petition in bankruptcy court in DE on Wednesday. In the petition, the company said it will close an initial 187 stores by around March 13 and an additional 365 RadioShack locations will either be transferred to Sprint or closed by March 31.

The Northland Avenue RadioShack now has "entire store on sale" and "all sales final" signs posted around the store. Since that time it has added "stores within stores" for Sprint products.

While the official General Wireless line is that it is reviewing options for the remaining stores, Bloomberg is reporting that sources say these RadioShack locations will likely be liquidated. The electronics chain filed for bankruptcy in 2015. In 2016, we reduced operating expenses by 23%, while at the same time saw gross profit dollars increase 8%. "In an age of growing competition from online retailers such as Amazon, traditional brick-and-mortar stores are in trouble", CNN Money noted.

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