RadioShack goes bankrupt again as Sprint tie-up fizzles

[Common]

This is another that will soon go byebye with Sears, kmart and JC Penny

Most everything radio shack sells, you can buy in Walmart for half the price


RadioShack filed for bankruptcy on Wednesday for the second time in a little over two years, dogged by a dismal retail environment and an unfruitful partnership with wireless provider Sprint Corp.
The Chapter 11 filing comes after RadioShack, owned by General Wireless Operations Inc., tried to revitalize its business by co-branding stores with Sprint in an effort to compete against their largest rivals.
General Wireless, which acquired the RadioShack brand in 2015, listed assets and liabilities in the range of $100 million to $500 million in the US bankruptcy court for the Delaware district.
RadioShack will close approximately 200 stores and will evaluate options on the remaining 1,300, the company said in a statement.
Sprint — controlled by Japanese billionaire Masayoshi Son, the owner of Softbank — will convert several hundred locations into Sprint corporate-owned stores, the wireless provider said in a separate statement.
RadioShack’s bankruptcy filing and subsequent store closings are not material to Sprint’s overall sales results, Sprint added.
RadioShack, a nearly 100-year-old chain that captured the heart of electronics enthusiasts for its specialty products such as “walkie-talkies,” first filed for bankruptcy in 2015 after the rise of mobile phones caught it off guard and customers abandoned its stores for big-box competitors including Best Buy Co. Inc. and Amazon.com Inc.
In an attempt to keep the doors open on 1,740 stores, RadioShack struck up a partnership with Sprint during its bankruptcy, inviting the mobile carrier to co-brand with the company and set up smaller stores within its own.
At the time, Sprint viewed RadioShack’s retail footprint as a way to quickly scale up its own business, and RadioShack hoped to benefit from increased liquidity in the form of rent and commission payments from Sprint.
But, in the years since RadioShack has emerged from bankruptcy, both Sprint and RadioShack have been challenged.
Sprint, whose network is viewed by analysts as inferior to the country’s largest carriers, Verizon Communications Inc. and AT&T Inc., has been forced to offer heavy discounts to grow its business.
Sprint’s challenges, which led to sales dropping “precipitously” toward the end of last year, meant RadioShack received less than expected in commission, RadioShack said in papers filed Wednesday.
“The Sprint relationship did not yield the benefits” RadioShack was anticipating, it said.
RadioShack, meanwhile, has struggled to compete against internet behemoth Amazon.com and for the attention of shoppers who increasingly wait for deep discounts before making a purchase.
The influx of cheaper copycat consumer products manufactured abroad has also hurt the business.
Still, in the years since its first bankruptcy, RadioShack has focused on expanding its private-label offerings, which include drones, radios and adapters, and now make up the majority of its business.
The shift away from selling other retailers’ products to its own has helped it reduce operating expenses and increase gross profit.


http://nypost.com/2017/03/09/radiosh...ie-up-fizzles/

[decedent]

I stopped going there when they stopped selling electronic components. "A transistor? Is that an anti-trans person?"

[Common]

I stopped going there when they stopped selling electronic components. "A transistor? Is that an anti-trans person?"

yup Radio shack sold damn near everything you wanted electronically, from resisters to small circuit boards to ever wire connector made.

Now like I said whatever they sell you can buy for half or less

[decedent]

yup Radio shack sold damn near everything you wanted electronically, from resisters to small circuit boards to ever wire connector made.

Now like I said whatever they sell you can buy for half or less

They even had PCB making kits and breadboards. Now, I order everything online. It's just easier and I don't have to deal with a kid whose entire knowledge is constrained to video games and mobile phones.

[Standing Wolf]

I actually stopped going to Radio Shack for anything many years ago, when they began asking me to fill out a form with my name and address every time I made a cash purchase. "So we can send you a catalog." Bunch of nosy buggers.

I did go to one a few years ago, though, because someone told me I could probably find a replacement bulb for my Maglite there. They didn't have it in stock. Then I found it in my local Ace Hardware store. I'm actually kind of surprised every time I hear that Radio Shack is still around. They used to be in every mall...like B. Dalton and Waldenbooks. And Orange Julius. Or - going WAY back - Chess King.