Radio Shack Files Bankruptcy

[Thomas Promise]

Radio Shack Corp., the 94-year-old consumer-electronics chain, filed for bankruptcy with a plan to turn about half of its 4,000 stores into Sprint Corp. locations and close the rest. You may find some good bargains there if you hurry.

 

http://www.bloomberg.com/news/articles/2015-02-05/radioshack-files-for-bankruptcy-protection-as-losses-mount-i5spaw86

[dnoblett]

My first career was 9 years working at Radio Shack, from sales to store manager.

 

Glad I sold my stock a long time ago, back when I was hired by Radio Shack the district manager sold me on the stock purchase program, the company matched every dollar so it was a no brainer. Yesterday the stock closed at $0.24 before the stock exchange halted and then delisted the stock.

The company lost it's way a long time ago when they stopped selling core things like electronics components, stereos, geek toys, and other electronics and became just another cell-phone and accessory store.

 

A few stories:

 

This franchisor never forgot what made Radio Shack the go to place for electronics hobbyists

http://www.wired.com/magazine/wp-content/images/18-05/ff_radioshack_f.jpg

The Lost Tribes of RadioShack: Tinkerers Search for New Spiritual Home

 

If you live in the silicon valley area you can find this guy's store here:

 

RadioShack - E-STUFF PLUS

564 GRAVENSTEIN HWY N, SEBASTOPOL, CA 95472.
(707) 823-8320

 

Here is a internet archive of the catalogs every one loved. http://www.radioshackcatalogs.com/

 

http://i.kinja-img.com/gawker-media/image/upload/s--BDOzEAYw--/c_fit,fl_progressive,q_80,w_636/dkahntsqgeywnde9oijb.jpg

 

Farewell, Radio Shack, and Farewell to the Twentieth Century

 

 

 

 

[Randy W]

Some interesting thoughts, anyway

 

RadioShack's bankruptcy provides Amazon with a huge opportunity

 

So what's in it for Amazon? One of its current advantages is that profitability is not being undermined by a huge and costly store portfolio, yet having a well-located chain of outlets could provide the company with two missing and increasingly crucial components for its current business.

 

Firstly, Amazon doesn't have anywhere to express its brand or showcase its products. When it was a huge marketplace for other people's merchandise that wasn't such a problem but as it has moved into its own branded consumer electronics the need to demonstrate its range has become more crucial, especially as a means of brand-building. . . .

 

Secondly, the RadioShack outlets would provide Amazon with a ready-made and extensive national infrastructure for collection and returns, or even act as a distribution point enabling the speedier delivery of goods to local customers, a service the company has recently launched from a new site in Manhattan.

 

[danb]

Hello. Radio Shack reminds of the many new shiny stores in a new shiny mall in China. Bright lights, products on displayed, ample floor space but perhaps not quite enough products on display. And the other very important factor. Not that many customers in the store and even less buying something. They never seem busy. Most of the time when I visit Radio Shack people are buying batteries or asking about cell phone problems. Over the years I have brought 3 or 4 meters, 3 scanners, radios, and tons of electronics junk (components, kits, jumpers, connector,etc) from them. Until the advent of shopping online Radio Shack was about the only place I could go locally to easily get electronic stuff. I saw Radio Shack as an electronic /technology store but they never seemed to capitalize on it. Hope they keep a couple of the local ones around. Danb. Randy's article above make a couple of interesting points :

 

Firstly, Amazon doesn't have anywhere to express its brand or showcase its products. When it was a huge marketplace for other people's merchandise that wasn't such a problem but as it has moved into its own branded consumer electronics the need to demonstrate its range has become more crucial, especially as a means of brand-building. . . .

Secondly, the RadioShack outlets would provide Amazon with a ready-made and extensive national infrastructure for collection and returns, or even act as a distribution point enabling the speedier delivery of goods to local customers, a service the company has recently launched from a new site in Manhattan.

[Doug]

Yes the hobbyist back in the day. Later I found years later everything I bought there fell apart. I got tired of their quality, or lack of it. The only good thing is their batteries. They last longer than anything out there. I've never been a Tandy fan and they have a statue of the guy in Ft Worth, downtown. No statue for the Leonard Bros, that built downtown, and sold everything cheap so the poor could afford. Tandy bought up their buildings and named them after himself.

Edited February 9, 2015 by Doug (see edit history)

[Thomas Promise]

Here are the Radio Shack Stores that closing. Nearly 1,800.

 

 

http://money.cnn.com/2015/02/09/news/companies/radioshack-store-closings/index.html?iid=HP_River

[Doug]

Here are the Radio Shack Stores that closing. Nearly 1,800.

 

 

http://money.cnn.com/2015/02/09/news/companies/radioshack-store-closings/index.html?iid=HP_River

Yep, my closest in Benbrook, TX will close. No surprise.

[dnoblett]

Yes the hobbyist back in the day. Later I found years later everything I bought there fell apart. I got tired of their quality, or lack of it. The only good thing is their batteries. They last longer than anything out there. I've never been a Tandy fan and they have a statue of the guy in Ft Worth, downtown. No statue for the Leonard Bros, that built downtown, and sold everything cheap so the poor could afford. Tandy bought up their buildings and named them after himself.

 

I know what you mean, Charles Tandy was a schude businessman he started in the leather craft business and saw in Radio Shack another hobby business, he grew that to over 5000 locations which is impressive.

 

The dark side of Tandy was how he sometimes brought out companies and screwed the workers. Here in Rochester NY we had a leather company called Hickok Belt, this company offered their workers a retirement plan which Tandy did not honor after Tandy bought out Hickok in 1971, to this day many in Rochester remember this.

 

More about Hickok: http://www.nytimes.com/1992/09/11/nyregion/raymond-hickok-74-executive-who-helped-develop-seat-belts.html