RadioShack Pulls the Plug After 94 Years

RadioShack

RadioShack, the iconic US franchise of electronics retail stores, has filed for chapter 11 bankruptcy after 94 years of business. The company which started out as a mail order radio business has been in steady decline for years, losing over 90% of its value as it lost out on the burgeoning mobile phone markets. Analysts have been astonished that RadioShack’s 4,485 US stores have managed to stay open so long; the plucky Texas based company clawed its way through quarter after quarter as its competitors such as Circuit City and The Wiz shut up shop for good.

By filing for Chapter 11 bankruptcy Radio Shack is able to restructure and the legacy will continue in various forms. Hedge fund Standard General will acquire up to 2,400 of RadioShack’s best performing stores and develop some of them in partnership with the phone carrier Sprint, plus the independent franchises will remain repetitively unaffected.

Middle-aged tech geeks with be shedding a nostalgic tear…

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