The New York Times reports that Judge Brendan L. Shannon of United States Bankruptcy Court in Delaware has given his blessing "to a plan that would keep about 1,700 RadioShack stores open, saying he would approve the plan over a higher cash bid that would probably have liquidated the retailer but raised more money for its creditors." The stores are being sold to a hedge fund, Standard General, which "intends to co-brand those RadioShack stores as Sprint stores in a bid valued at about $160 million."
The story says that "RadioShack stores could now live on, albeit as a much smaller chain geared toward selling mobile phones ... These locations - many in strip malls and in lower-income, underserviced areas - could be well suited to selling prepaid phones to customers with poor or limited credit."
The story says that "RadioShack stores could now live on, albeit as a much smaller chain geared toward selling mobile phones ... These locations - many in strip malls and in lower-income, underserviced areas - could be well suited to selling prepaid phones to customers with poor or limited credit."
- KC's View:
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Probably won't be long before little kids are looking at their parents and asking, "What's a radio?" Which will make the RadioShack name problematic. Almost as problematic as the company's retail strategy has been.
