RadioShack Announces a ‘Possible Closure’ List of Locations
The time has come for RadioShack to pull the plug and close hundred of its stores nationwide. The company's website said that it is 'possibly' shuttering the stores in the Rio Grande Valley, besides the many locations spread all over the country.
According to the website of the troubled electronics retailer the list of 'possible closure' marked stores include outlets in Rio Grande City, Harlingen, McAllen and Brownsville.
RadioShack was founded in 1921, in Boston. Recently on February 5, the consumer electronics company filed for Chapter 11 bankruptcy protection. In the past couple of years the retailer has suffered from progressively deteriorating sales figures due to competition from online as well as modern brick and mortar stores. That's not all that led to its decline, the electronics retailer failed to become a venue for the consumers looking for mobile phones.
In the U. S, RadioShack has approximately 4,000 stores owned by the company. According to a corporate press release, the company signed an agreement with General Wireless Inc. to acquire as many as 1,500 to 2,400 of the stores owned by the company.
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