Hibbing, Virginia RadioShack stores set to close

21 March, 2017, 05:12 | Author: Valerie Burke
  • RadioShack

RadioShack was founded 96 years ago, and it once had thousands of locations.

In a Chapter 11 reorganization petition filed Wednesday in the U.S Bankruptcy Court in Delaware, General Wireless stated it planned to close 187 stores this month, with the process already underway.

Parent company General Wireless, which filed for Chapter 11 protection March 8 in U.S. Bankruptcy court in DE, disclosed its latest plan for closures late last week in court papers. Those stores were deemed the ones with the "lowest sales velocity and highest rent".

Following the latest wave of store closings, Radio Shack will have about 800 stores still operating in the United States. Business Insider published the full list of closings.

There are 42 Texas locations on the list, but none of those stores are in the Rio Grande Valley.

The company operates Sprint stores within RadioShack locations, as well as franchising the name to other stores. Subsequently, General Wireless, a joint venture of hedge fund Standard General and Sprint, acquired it and has run 1,518 stores.

But the Sprint Stores at those locations will remain open. The companies teamed up during the last RadioShack bankruptcy in 2015.

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