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RadioShack Bankruptcy Savior to File For, You Guessed It, Bankruptcy

posted by Fnord666 on Tuesday March 07 2017, @04:04PM   Printer-friendly
from the so-it's-insolderancy? dept.

Phoenix666 writes:

The company that arose from RadioShack's 2015 bankruptcy saga could soon itself be filing for bankruptcy.

General Wireless is reportedly on the brink of seeking protection from creditors and entering the liquidation process. The biz could not be reached for comment. The formal paperwork for the bankruptcy could be posted within a matter of days, it is claimed.

A liquidation of General Wireless will effectively mark the end of RadioShack, which opened its first store in 1921 and became a mainstay of electronics hobbyists through the rise of the home computing era.

The retailer was nearly liquidated outright in 2015 after years of struggling to keep up with competition from online stores and a financial plummet that saw the value of its stock fall so sharply it was removed from the New York Stock Exchange.

Micro Center remains, but in the era of Adafruit, Seeed Studio, Sparkfun, and others are big-box retailers still relevant?

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  • (Score: 0) by Anonymous Coward on Tuesday March 07 2017, @06:38PM (3 children)

    by Anonymous Coward on Tuesday March 07 2017, @06:38PM (#476116)

    It's 2017 and there is a RadioShack less then 3 miles away from me. How is this even possible?

  • (Score: 3, Informative) by nobu_the_bard on Tuesday March 07 2017, @06:45PM (2 children)

    by nobu_the_bard (6373) on Tuesday March 07 2017, @06:45PM (#476123)

    I asked the one near me. The owner was doing well enough, he bought the store out from the franchise, I think is what he said. It's basically a cellphone store now.

    I didn't know you could do that. Also somehow he got away with keeping the name?

    • (Score: 1) by daver!west!fmc on Tuesday March 07 2017, @10:13PM

      by daver!west!fmc (1391) on Tuesday March 07 2017, @10:13PM (#476194)

      Radio Shack was historically two kinds of stores: "company store" and "franchise store". The "company store" was owned by Tandy and sold only the Tandy lines of products (Archer, Micronta, &c). The "franchise store" was not owned by Tandy, but had the use of the Radio Shack name and the option to sell the Tandy lines of products. Franchise stores could sell other manufacturers' lines and often did.

    • (Score: 0) by Anonymous Coward on Wednesday March 08 2017, @06:19AM

      by Anonymous Coward on Wednesday March 08 2017, @06:19AM (#476354)

      "You've got Questions. We have Phones!"