RadioShack bankruptcy claims Indianapolis stores

RadioShack

RadioShack The decline of traditional brick-and-mortar retail will be heading to Brick once again

RadioShack filed voluntary petitions under Chapter 11 in the United States Bankruptcy Court for the District of DE on March 8. After the first bankruptcy just over two years ago, the electronics retailer and Sprint began co-branding stores. While no closing date is listed, the company said in a news release on March 8 that some stores would close "in the coming month".

There are 42 Texas locations on the list, but none of those stores are in the Rio Grande Valley. It also has a store in San Benito at 1145 Ross Road.

General Wireless was formed by Sprint Corp. and former RadioShack owners with hopes of reviving the fortunes of the venerable consumer-electronics chain. The companies teamed up during the last RadioShack bankruptcy in 2015.

The company operates Sprint stores within RadioShack locations, as well as franchising the name to other stores.

Many RadioShack stores house a Sprint store as General Wireless is a joint venture of hedge fund Standard General and Sprint.

The company said the stores being liquidated have the "lowest sales velocity and highest rent".

Stores in Oak Ridge and Maryville will remain open.

RadioShack is evaluating options on the remaining 1,300 stores, the company said in the release.

RadioShack's second bankruptcy in two years will lead to the closing of 552 stores.

Latest News