RadioShack files for bankruptcy - again

[retailisking]

My "source," such as it is, is a seemingly in-the-know comment on this interview about superficially positive trends at RS. Note that the author (Alan Wolf) doesn't question the veracity of the comment but simply states that nobody at the company will address this industry speculation and that his "hands are tied." Note also that Wolf confirms the layoffs.
http://www.twice.com/radioshack-profits-are-prime-directive/64297

Here are the comments that piqued my interest; I'm quoting them verbatim here in case they subsequently get scrubbed at Twice:

Jeff: Um, RadioShack has now let go all of Merchandising, Marketing, and all but 2 replenishment. Sprint failed to pay an expected sum and RS will likely liquidate over the next 90 days. And you report the above, instead?

Alan Wolf: Well aware of the situation in Ft. Worth, Jeff, but without confirmation from General Wireless or Standard General our hands are tied. Wouldn't want to be accused of fake news! (fyi, Q&A with Dene Rogers took place prior to Sprint's purported pullout.)

Edit 3/3 - see my message from today (reply #3) indicating an imminent bankruptcy filing

Edit 3/9: changed topic title to reflect bankruptcy filing

[TheFugitive]

RS has been a zombie company since the 90's at least.

Too many other places where you can buy a cell phone.

[shore72]

I stopped in a RS a few weeks ago; the 2 employees were nearly comatose with boredom. My purchase of a watch battery was likely the only thing they'd sold in hours. I really had to wonder how they were keeping the lights on.

[retailisking]

RadioShack has been stiffing vendors and suppliers and quietly closing stores in the last few months. The Sprint pullout rumors turned out to be true and appears to be the fatal blow.
https://www.bloomberg.com/news/articles/2017-03-03/radioshack-s-successor-said-to-be-preparing-bankruptcy-filing
http://www.twice.com/news/retail/radioshack-may-be-down-count/64461

[retailisking]

Standard General is in the process of closing 200 stores as it finalizes Chapter 11 filing. Is this a real survival plan or just forestalling the inevitable?
http://www.marketwatch.com/story/radioshack-may-file-for-bankruptcy-for-second-time-in-two-years-2017-03-06

[Bdubs]

One of the last existing RS in southeast Ct (New London) is closing. I believe they only have 10 days left.

[retailisking]

And now it's official - in its filing, General Wireless says they are "evaluating options" on their remaining locations. 187 stores will close by Monday. 365 additional stores will close or be sold to Sprint by the end of the month. The remaining stores may be subject to liquidation.
http://www.twice.com/news/retail/radioshack-files-bankruptcy-again/64491

[jason83080]

On the upside, if the rumors from last year about Circuit City returning as a resurrected RadioShack want to be proven true, now's the time to snap up some leases and buy some paint! ;)

[retailisking]

https://consumerist.com/2017/03/15/inside-stories-from-radioshacks-sinking-ship-tight-lips-confusion-questionable-clearance-prices/

[giantsfan2016]

SOunds like a bigger mess than Sears Holding Corporation.

[retailisking]

Here's a days-old listing of the first tranche of stores to close; keep in mind that the ones not sold to Sprint could also close at any time
https://consumerist.com/2017/03/10/here-is-the-list-of-radioshack-stores-closing-soon/

[shore72]

Georgetown, DE (not on the list) is closing, I drove by there Monday.

[NJxxJon]

I havent seen my local one on the list either ....however that annoying HI CAN I HELP YOU 1 FOOT away from me + the location .....well I wont be surprised if it tanks.

[Chuck E. Cheese]

Funny, the Middletown CT store seems to be having a liquidation sale even though it's not on the list. 'Entire Store On Sale' signs everywhere..I didn't stop in though.

[shore72]

I stopped in the Milford, DE store the other day, the signs don't say 'store closing' but that's whats happening, "all sales final". About 1/3 of the floor space is taken up by a Spring store, and I'm guessing it's staying. The marked prices appear to have been marked up dramatically. A can of electronics cleaner that I bought there last year for about $12 is now $17, 30% off. I felt for the lone RS employee on duty, a helpful guy who told me he had 27 years with the company.

Tonight I was looking for a part and checked out radioshack.com. I couldn't find anything about the closings, but the stuff I was looking at was marked down 50%.

[giantsfan2016]

Southington and Bristol Connecticut are both closing even though they weren't on the list. AN article in the New Britain Herald a week or two ago that talked about the New Britain location closing mentioned Queen Street Southington which is staying open is the last remaining original tenant it that plaza.

[retailisking]

Just in case the restructuring thing doesn't work out, RS puts Texas on notice
http://www.dallasnews.com/business/retail/2017/03/27/radioshack-may-close-fort-worth-headquartersas-part-bankruptcy-filing

[NJxxJon]

You can see WHICH ONES are closing by going to radioshack.com and using the STORE LOCATOR. Also...gift cards only last until the end of this month............

[retailisking]

You can see WHICH ONES are closing by going to radioshack.com and using the STORE LOCATOR. Also...gift cards only last until the end of this month............

Those are, of course, the ones that are closing as of now. RadioShack's survival is by no means assured.

[shore72]

I was in a store today and had a good talk with the clerk. He said store employees are mostly in the dark; the media was reporting on the bankruptcy for almost 2 weeks before anything was said about it to them. He explained that some stores are 100% closing, others (like the one he works at) may have giant "STORE CLOSING" banners out front but they may just stay open after all (he's been seeing shipments come in from other stores), and then other locations are intended to stay open 100% UNLESS the bankruptcy court says to shut the whole works down. Earlier I mentioned being in the Milford location; I stopped back late this week, today was supposed to be the last day. Everything on the Sprint side of the store appeared "business as usual". The RS side was mostly empty now, finally with some really decent deals...and stacks of boxes ready to fill up what was left and ship elsewhere.