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Bosonic

(3,746 posts)
Thu Feb 5, 2015, 06:40 PM Feb 2015

RadioShack files for Chapter 11 bankruptcy protection

Source: Reuters

Electronics retailer RadioShack Corp filed for Chapter 11 bankruptcy protection and said shareholder Standard General LP would buy 1,500 to 2,400 of its stores.

RadioShack listed assets of $1.2 billion and liabilities of $1.39 billion in its bankruptcy petition in a Delaware court.

The company warned in September that it could file for bankruptcy protection if talks with lenders and stakeholders about a sale or a restructuring failed.

RadioShack's top lenders include hedge fund Standard General LP, which is also its largest shareholder, and Salus Capital Partners.

Read more: https://en-maktoob.news.yahoo.com/radioshack-files-chapter-11-bankruptcy-protection-223335780--sector.html

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RadioShack files for Chapter 11 bankruptcy protection (Original Post) Bosonic Feb 2015 OP
The end of an era. Sad to hear. forest444 Feb 2015 #1
I wouldn't blame anyone but Radio Shack for their predicament. closeupready Feb 2015 #2
Absolutely poorly run.... I once applied for job, they didn't care about electronics knowledge groundloop Feb 2015 #9
one of a few companies PatrynXX Feb 2015 #6
It was ailing for such a long long time. dixiegrrrrl Feb 2015 #3
Just great. Fuzzy Slipper Feb 2015 #4
Aww man shenmue Feb 2015 #5
get used to alot of temporary stores olddots Feb 2015 #7
This former CEO might have had something to do with it's failure. canoeist52 Feb 2015 #8
K&R DeSwiss Feb 2015 #10
Sucks but they kind of brought it on themselves Reter Feb 2015 #11
RIP davidpdx Feb 2015 #12

forest444

(5,902 posts)
1. The end of an era. Sad to hear.
Thu Feb 5, 2015, 06:55 PM
Feb 2015

My father's first home computer was a Radio Shack TRS-80 (like this one: http://www.theoldcomputer.com/roms/index.php?folder=Tandy-Radio-Shack/TRS-80-Model-I), purchased in July 1980 shortly after graduation. He mentioned to me that at the time, it was known by its detractors as the "Trash-80"; but according to him at least, it was revolutionary for its day if your intent was to use it for engineering/scientific work.

I walked into a Radio Shack in Orange County, California, in 2005; the clerk didn't even know what an RCA cable was.

Still and all, those are thousands of jobs (even if they are mostly part-time) that will likely disappear just because some LBO vulture thought it was a good time for a corporate bust-out. Truly sad.

 

closeupready

(29,503 posts)
2. I wouldn't blame anyone but Radio Shack for their predicament.
Thu Feb 5, 2015, 06:59 PM
Feb 2015

Or perhaps their management. Poorly run store.

groundloop

(11,519 posts)
9. Absolutely poorly run.... I once applied for job, they didn't care about electronics knowledge
Thu Feb 5, 2015, 10:09 PM
Feb 2015

While I was in college working on my Electrical Engineering degree I applied for a job at a radio shack store. I was told they didn't care if I knew a lot about electronics or not, they only needed people with sales experience. I'd had a gut feeling during that time that they'd started going downhill, after that I knew why.

PatrynXX

(5,668 posts)
6. one of a few companies
Thu Feb 5, 2015, 07:38 PM
Feb 2015

that put Zagg covers on for free. Best Buy is the other but it's way on the other side of town

dixiegrrrrl

(60,010 posts)
3. It was ailing for such a long long time.
Thu Feb 5, 2015, 07:03 PM
Feb 2015

Sad to watch the decline of the stores, they were looking very forlorn towards the end.

 

olddots

(10,237 posts)
7. get used to alot of temporary stores
Thu Feb 5, 2015, 08:43 PM
Feb 2015

They open to sell slave made dreck for holladays and hire part time temp labor ....yeah a real 1%er bizz plan. But the fucking starbucks is still open . maybe we can have drone delivery to the homeless camps ........ we get the empty mall blues

canoeist52

(2,282 posts)
8. This former CEO might have had something to do with it's failure.
Thu Feb 5, 2015, 09:09 PM
Feb 2015

He was one half of the duo CEO's that tried to run Market Basket into the ground last summer.

"The company's CEO position was filled by a duo: James Gooch, Radio Shack's CEO who resignbed in 2012, and Felicia Thornton, formerly of Albertsons."

http://fwbusinesspress.com/fwbp/article/1/6283/Breaking-News/Former-RadioShack-CEO-caught-in-protest-over-ousted-leader-at-Market-Basket.aspx

 

DeSwiss

(27,137 posts)
10. K&R
Thu Feb 5, 2015, 11:11 PM
Feb 2015

RadioShack's top lenders include hedge fund ROBBER BARONS Standard General LP, which is also its largest shareholder, and Salus Capital Partners.

- /fixed

 

Reter

(2,188 posts)
11. Sucks but they kind of brought it on themselves
Thu Feb 5, 2015, 11:16 PM
Feb 2015

A few months ago, I needed a BNC to coaxial adapter right away, and about six more. I went to RS. They had them each for like $7.99. I bought one, then went on Amazon for the rest. They came in packs of 10 or 12 for $6 shipped. With price differences like that, RS should have found new sources years ago.

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