TweakTown
Tech content trusted by users in North America and around the world
6,000 Reviews & Articles | 38,740 News Posts
TRENDING NOW: Intel's Core i7-5960X CPU has already been overclocked to 6.2GHz

RadioShack to close 1,100 stores nationwide, continuing to unravel

US electronics retailer RadioShack will close an additional 1,100 stores as the company fights for survival against other retailers and e-tailers (NYSE:RSH)

| Business, Financial & Legal News | Posted: Mar 4, 2014 7:20 pm

U.S. electronics store RadioShack announced it plans to close up to 1,100 of its stores in the United States, as the company continues to struggle in a fight for survival.

 

TweakTown image news/3/5/35956_02_radioshack_to_close_1_100_stores_nationwide_continuing_to_unravel.jpg

 

RadioShack has a large retail footprint in the United States, with 90 percent of US shoppers located within a few minutes of at least one store.

 

"Our focus on the brand, our operations, and the in-store experience has been unfolding in parallel with a strategic review of our store footprint," said Joseph Magnacca, RadioShack CEO, in a press statement. "Over the past few months, we have undertaken a comprehensive review of our portfolio from many angles - location, area demographics, lease life and financial performance - in order to consolidate our store base into fewer locations while maintaining a strong presence in each market."

 

Information about which stores - and how many jobs will be lost - still hasn't been disclosed by RadioShack.

 

It seems RadioShack will be unable to successfully turnaround - even with additional store closures - and the company's stock value continues to plunge. Following a successful Super Bowl ad which made fun of itself, the company also announced 500 U.S. retail stores will be closed - just three months into 2014 and a total of 1,600 RadioShack stores will be shuttered in the near future.

NEWS SOURCESMedia.radioshackcorporation.com, Es.wikipedia.org

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest Tech News Posts

View More News Posts
Check out TweakTown Polls on LockerDome on LockerDome

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases