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RadioShack may be preparing for bankruptcy
CNN Money ^ | 14 Jan 2015 | By Katie Lobosco and Chris Isidore

Posted on 01/15/2015 6:29:03 AM PST by Red Badger

Struggling to raise enough cash and credit to stay alive, RadioShack is reportedly preparing to file for bankruptcy as soon as next month.

The filing could come the first week of February, according to the Wall Street Journal. RadioShack declined to comment for this story.

The company had a deadline of Jan. 15 to come up with $100 million in combined cash and available credit, or its major creditors can pull the plug on the long-term financing it needs to survive. RadioShack only had $63 million available heading into the Christmas shopping season.

The struggling electronics retailer has been trying to close 1,100 of its 5,000 stores since March, but it's an expensive undertaking. It only came up with enough cash to close 175 stores through the end of October.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; Culture/Society; US: Texas
KEYWORDS: electronics; radioshack; retail
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To: Eric

DING! DING! DING!
We have a winner!

RS started going down hill when they cut loose their Tandy Leather market! I learned how to make belts and hat bands with an old Tandy kit, I probably still have the letter stamps - somewhere! Hell, I built my own radio from one of their kits. The problem is that parents and kids no longer build stuff together, and that cut them to the bone!

However, their vision and management is what SCREWED them! It was a DIY shop, back when DIY was popular, and instead of keeping that niche, they decided to move to a miniature Computer City, I mean Circuit City, I mean CompUSA, I mean BestBuy! And they are going the way of those first three!!

Now, DIY is popular again, and as someone else stated, RS is one of the only places you can (well, you USED to could) find the electronics needed to make your own repairs. While in combat in Panama, we went into downtown Panama City, into a RadioShack, and purchased the diodes and resistors needed to repair 24, million dollar combat vehicles (we couldn’t get the parts through supply fast enough)!!!

I have a power inverter that blew a transistor on the cooling fan, but three of the RadioShacks that I visited, didn’t even carry these products anymore! When I finally found the part, I asked the clerk if they had a solder sucker, and he looked at me like I was STUPID!!

THEY FAILED THEIR CUSTOMERS!


61 posted on 01/15/2015 8:53:12 AM PST by ExTxMarine (PRAYER: It's the only HOPE for real CHANGE in America!)
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To: Tanniker Smith
I did have a problem with their salespeople a few times, being a little too pushy on the extras.

They worked on commission. My daughter worked at Radio Shack about 10 years ago........................

62 posted on 01/15/2015 8:54:22 AM PST by Red Badger (If you compromise with evil, you just get more evil..........................)
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To: jetson

Battery of the Month Cards! Remember those?............


63 posted on 01/15/2015 8:55:02 AM PST by Red Badger (If you compromise with evil, you just get more evil..........................)
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To: ExTxMarine
... they decided to move to a miniature Computer City, I mean Circuit City, I mean CompUSA, I mean BestBuy! And they are going the way of those first three!!

Four.........BestBuy isn't doing well....................

64 posted on 01/15/2015 8:56:15 AM PST by Red Badger (If you compromise with evil, you just get more evil..........................)
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To: Vaduz

Be Realistic!.....................


65 posted on 01/15/2015 8:56:34 AM PST by Red Badger (If you compromise with evil, you just get more evil..........................)
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To: bgill

Back in the day...........late 60’s early 70’s, my teen years, their catalog was my ‘Wish Book’...................Now I’m 60 and an Electronic Engineer................


66 posted on 01/15/2015 8:58:03 AM PST by Red Badger (If you compromise with evil, you just get more evil..........................)
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To: ExTxMarine

Stocks fluctuate after four-day slide; Best Buy lowers outlook; RadioShack bankruptcy?

http://finance.yahoo.com/news/us-stocks-roiled-by-swiss-move—weekly-jobless-claims—radioshack-bankruptcy-112701639.html


67 posted on 01/15/2015 9:00:12 AM PST by Red Badger (If you compromise with evil, you just get more evil..........................)
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To: Red Badger
They worked on commission.

And those at the bottom of the food chain got screwed...

Fat corp greed...Then they attempted to become trendy...Another cell phone store?....Just what ya need....

68 posted on 01/15/2015 9:02:35 AM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: ExTxMarine
Agree with everything you said.
I don't even bother going to RadioShack for parts anymore.

If I need something quick, I just bite the bullet on overnight or two day air.

10 years ago we had 4 electronic supply stores in a 30 mile area, now we just have RS, meaning we have nothing.

69 posted on 01/15/2015 9:05:52 AM PST by The Cajun (Ted Cruz, Sarah Palin, Mark Levin, Mike Lee, Louie Gohmert....Nuff said.)
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To: Red Badger

I just know that the first three all either filed bankruptcy and/or folded completely!

I have no doubt that BestBuy will too, in time.

Most of these brick and mortar stores are too high priced! I will admit, I usually go into a store to compare and SEE the product, and then I go home, and order it online!

The only exception to that rule, is when I see a product with 100+ reviews, where 85%+ were EXTREMELY happy with it! In that case, I feel that there is a very good probability that the product is a good item/buy.

People are moving back to the old Sear and Roebuck Catalog days - only now it is easier, simpler, and much QUICKER!


70 posted on 01/15/2015 9:06:44 AM PST by ExTxMarine (PRAYER: It's the only HOPE for real CHANGE in America!)
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To: Red Badger

We have a great store here in Easter MA called You-Do-It electronics right of of Rt. 128/I-95.
A bit pricey but they have EVERYTHING, 10 times the store RS ever was.


71 posted on 01/15/2015 9:08:18 AM PST by mowowie (`)
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To: Red Badger
RS stock is currently trading at $0.32/share.


72 posted on 01/15/2015 9:17:12 AM PST by Jack Hydrazine (Pubbies = national collectivists; Dems = international collectivists; We need a second party!)
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To: Jack Hydrazine

Good time to buy low........................;^)


73 posted on 01/15/2015 9:23:12 AM PST by Red Badger (If you compromise with evil, you just get more evil..........................)
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To: ExTxMarine

Sears/K-Mart are nearing the edge of the cliff as well....................


74 posted on 01/15/2015 9:24:43 AM PST by Red Badger (If you compromise with evil, you just get more evil..........................)
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To: mowowie

I believe that had RS stayed with the hobbyist, the hobbyists would have stayed with them..............................


75 posted on 01/15/2015 9:26:06 AM PST by Red Badger (If you compromise with evil, you just get more evil..........................)
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To: Lou L
I think they simply lost their vision of what their company was and is. Are they a place to by electronic components? Phones? Batteries? Electrical gadgets? There’s a lot of competition that sells nearly all of those things. And what I can’t find at a brick and mortar competitor, I can find online. How many can really say, “I shop at Radio Shack for ______ because they do it better than ______ (named competitor.)”

Their stores have become little boutiques with little more than cel phones and electronic toys. I live as close to Fry's as I do Radio Shack, so I skip Radio Shack.

What happened to their branded products, like Realistic? I am still using my Realistic direct drive turntable that I bought back in the mid-80's.

76 posted on 01/15/2015 9:30:57 AM PST by Sans-Culotte (Psalm 14:1 ~ The fool says in his heart, “There is no God.”)
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To: Red Badger

Yea, but all the memory I needed was on the DEC 10/20’s. And my local college computer lab. Those were DEC’s too IIRC. I never went to the campus lab, well, once, but that was for a punch card assignment.

I just went home and dialed in. No restrictions on food, drink or smoking.


77 posted on 01/15/2015 9:45:52 AM PST by AFreeBird
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To: T-Bone Texan

I had an account on prodigy for a while. Didn’t like it much. And CIS had MEGAWARS!


78 posted on 01/15/2015 9:47:39 AM PST by AFreeBird
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To: AFreeBird

PDP-11’s no doubt........................


79 posted on 01/15/2015 10:01:52 AM PST by Red Badger (If you compromise with evil, you just get more evil..........................)
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To: JaguarXKE
The one thing I remember most is how I was always ALWAYS to ask customers if they needed batteries.

That was much safer in the era before vibrators were advertised on TV...


80 posted on 01/15/2015 10:22:07 AM PST by Buckeye McFrog
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