RadioShack may sell half its stores to Sprint, close the rest as part of bankruptcy planBy Shawn Knight 8 comments
RadioShack's days in retail may soon come to an end. The iconic electronics retailer is preparing to sell nearly half of its retail stores to Sprint and shutter what's left over according to people familiar with the matter as reported by Bloomberg.
As part of a bankruptcy deal, Sprint would take over select retail locations and operate them under their name. Such an outcome would mean the end of RadioShack as a brick-and-mortar retailer although nothing has been set in stone as of writing.
Another possibility that's on the table is co-branding between the two parties or perhaps another buyer could enter the equation and keep the retail locations running. Sanpower Group, the Chinese backers that pulled Brookstone out of bankruptcy, are said to be interested in the stalwart's assets.
The publication notes that terms of the deal could change or negotiations could break down completely.
RadioShack got started way back in 1921 as a mail-order retailer for amateur ham-radio operators and maritime communications officers. Over the next several decades, the company expanded its product catalog to include a wide array of electronics. By the 1980s, the store was perhaps the go-to destination for computers, gadgets and other hard-to-find electronics.
The problem is, it never transitioned to the '90s and beyond as retailers like Best Buy and Fry's as well as a bevy on e-commerce operations have all put the final nail in the coffin.