Posted on 02/02/2015 1:46:48 PM PST by raccoonradio
Radio Shack has been selling communication equipment since 1921, but according to Bloomberg, the retail chain will not be celebrating a 100th birthday. As part of a bankruptcy deal, RadioShack Corp. will be shutting down their entire chain of 7,000 tech stores, half of which will be reportedly sold to Sprint. According to the report, RadioShack locations that are sold to Sprint would operate under the wireless carrier’s name, meaning RadioShack would cease to exist as a stand-alone retailer. RadioShack received a rescue financing package from Standard General LP in October, and the hedge fund would serve as the lead bidder in a filing and provide debtor-in-possession financing after filing, said the people. That would allow the investment firm to recoup some of the costs of the $535 million loan. Liquidating the stores also would let RadioShack avoid a battle with lenders over control of the company.
The end of an era.
It is odd that Radio Shack could not make money by selling TRS-80 computers and giving away batteries.
I bought my first good stereo from RS in the 1970s.
In fact I think the speakers had the RS logo on them.
It was big for CB radios and police scanners, mostly obsolete now.
Spoof of the chain done to the tune of B52’s Love Shack, performed by Guns and Moses
https://www.youtube.com/watch?v=P4XU6A7AWbg
Damn, feels like losing a friend.
Now where will I buy my resistors and capacitors?
Might as well sell to Sprint. If you go in to buy something, you wait forever to get to the counter as idiot cell phone buyers tie up the clerks.
Why does Radio Shack ask for your phone number when you buy batteries?
Bummer ping
Generally they've had poor selection and high prices, a deadly combination when competing against the internet.
It is the end of an era for sure but this is not surprising. They have been a glorified cell phone store for awhile now.
I did buy my batteries at RS. I could never understand how they could be so inexpensive. I did buy some DeOxit from RS last year. As I was doing that the counter clerk was setting up a cell phone plan for a customer.
They’ve been basically nothing but a cell-phone store for the past decade.
The prepaid-service phones on their racks brought out the ghetto filth and that’s when I stopped shopping at the Shack.
Sad, I spent most of my money there during my youth.
The Battery of the Month club, a free 5 “D” cell flashlight every Christmas, Flavoradios, Archer and Optimus products, SuperTape, ConcerTape, 3600’ 7” reels of tape, the Elton John endorsed mini-Moog, the 100-in-one kit, P-box kits, compact cassette repair kits, Norelco boxes, diamond and sapphire needles, Ham Radio books, inferior roftop antennas . . . good memories.
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