And it is official. RadioShack is closing down permenantly - Files for Bankruptcy - UPDATE

[GoodBytes]

RadioShack has filed for Chapter 11 bankruptcy, after 94 years in operation.

The company will sell off up to 2,400 of its 4,000 US stores, which is rumor that Amazon will buy some of them to Sprint if negotiation goes through as per rumors.

Amazon and Sprint aren't commenting on the matter.

RadioShack has been selling to people all sort of electronics, from computers to parts such as resistors and fuses to consumers for a bit over 94 years.

It used to be a widely popular, but was unable to stay competitive with online stores and competing electronic stores.

Source: http://www.theverge.com/2015/2/5/7983221/radioshack-files-chapter-11-bankruptcy

Let's enjoy some of the old ads they had:

Here is what Linus from the past says (RadioShack 20MHz, 386 CPU, 89MB HDD (yes), computer)

UPDATE

General Wireless had plans to purchase between 1,500 and 2,400 stores, where 1,750 RadioShack stores will also be transformed into a combination Sprint/RadioShack retailer. No info from Amazon.

Source: http://www.polygon.com/2015/2/9/8003733/radioshack-bankrupt-closing

So, RadioShack will continue to exists as name, but will be selling smartphone, and probably continue to sell many of it's items.

If its anything like in Canada, the store will have the nice section of smartphones by Bell Canada (long story, but Bell Canada bought the RadioShack which are called The Source now), and the rest of the store is in poor shape (dirty floors, old carpet that needs to be changed, not well trained staff outside of smartphones, dust on products on shelves. At least the ones I visited.)

[79wjd]

94 years...wow 

 

They should've pulled a Sharper Image and just closed down all retail stores....although, they probably couldn't compete online anyway  

[UltraNeonGaming]

That's sad, I feel bad for those guys

94 years in operation and then suddenly bankruptcy?

[dadasmithywinkle]

https://www.youtube.com/watch?v=5Xph-FV04jo

[TheSLSAMG]

That's sad, I feel bad for those guys

94 years in operation and then suddenly bankruptcy?

This situation was all but sudden, RadioShack traffic had been going down steadily for at least the last 15 years. Best Buy, online commerce and others gave them a run for their money, and they ran out of steam.

 

Fun fact: Micro Center was founded by two ex-RadioShack employees.

[Scouten]

i thought this happened 5 years ago

[Vitalius]

... which is rumor that Amazon will buy some of them to Sprint if negotiation goes through as per rumors.

... aren't commenting on the mater.

RadioShack has been offering to people electronics devices ...

That's some quality reporting right there. ^{I do this because luv u.}

 

Huh. Well this is kinda sad I guess. I liked their stores. Too bad. I'll just buy my stuff from Monoprice like I have been.

[Vypr]

That's sad, I feel bad for those guys

94 years in operation and then suddenly bankruptcy?

It's been happening over time, it's not too sudden. 

[UltraNeonGaming]

It's been happening over time, it's not too sudden. 

Yeah I know that, I remember a lot of news reports of this happening soon enough

That was a misuse of words

[bcredeur97]

Radioshack 2015... Never Forget.

[DeScruff]

Well that stinks. They were my goto place when I needed small trivial wires, adapters, batteries and such, and I couldn't wait for shipping since there is one less than 10 minutes away..
I don't think I ever bought anything over $15 in there though. I totally can understand why they are going under.

[elkenrod]

I don't think I ever bought anything over $15 in there though. I totally can understand why they are going under.

this......

I did buy an arduino there, but they just didn't have the selection or expertise to entice me to shop more.

[EpicGeekonFire]

Clearance? Do they even have anything good? 

[Zweihander]

Physical retail establishments are simply a thing of the past. 

 

The Internet is taking over, one day at a time...

[APersonWithABrokenChair]

Everyone, let's all stand for a moment of silence, to remember the great RaidoShack.  May he/she rest in peace!  1921-2015

[Jaybird]

RadioShack has filed for Chapter 11 bankruptcy, after 94 years in operation.

The company will sell off up to 2,400 of its 4,000 US stores, which is rumor that Amazon will buy some of them to Sprint if negotiation goes through as per rumors.

Amazon and Sprint aren't commenting on the matter.

RadioShack has been selling to people all sort of electronics, from computers to parts such as resistors and fuses to consumers for a bit over 94 years.

It used to be a widely popular, but was unable to stay competitive with online stores and competing electronic stores.

 

the title is miss leading as chapter 11 does not mean a company will close permanently. might want to read up on chapter 11. 

[GrimNeo]

Radioshack has nothing good to offer. I thought they went out of business a long time ago. Their store hours are horrible. Closing at 7pm on a Saturady. I will just go to Microcenter. Plus everything they offer is overpriced. That and their customer support is horrible. They have no clue what they are talking about. At least the stores in my area. I had a couple friends work for them. All the stores in my area closed. Seriously they had no idea what a displayPort was and this was 2 weeks ago when I called them.

[Blade of Grass]

I guess that explains why their stock got de-listed by the NYSE (it's only available over the counter now).

[Jerakl]

Clearance? Do they even have anything good? 

First thing I though

[Syntaxvgm]

Goodbye to the only place to get arctic silver and other bit parts in my town. Overpriced as hell, so good riddance I guess. But still, I don't like to see companies fold. It's messy. 

[Yog]

https://www.youtube.com/watch?v=5Xph-FV04jo

 

I loved that commercial...reminded me of my frightening childhood. I will miss radioshack, though...I rarely go there but when I do it's for a very pressing need. I don't have a place to go locally for electronic parts now.

[APrettyCoolWalrus]

Good riddance...except for that one time I needed a cable for HDMI to Component or something like that for a PS3.

[monstercameron]

I wonder if they will be having a going out of business sale?

[GoodBytes]

I wonder if they will be having a going out of business sale?

Stores usually do, but the specials are usually not great until the very last day. This is because they try to maximize funding to repay any debts. Companies try to do this to try and end in good term with some of the companies/warehouse they work with, for better support for any future project that the top executives may potentially have one day.

[alicskysareblue]

its chapter 11 not 7  chapter 11 means their stores continue to operate and prevent creditors from collecting assets chapter 7 means that the busniess is closed and all assets are sold.

 

PLEASE do your research before you make such a claim.