Summary of the Article
The firm has filed for bankruptcy protection and plans to sell between 1,500 and 2,400 stores to General Wireless, a subsidiary of the retailer’s biggest …
Syracuse, N.Y. — RadioShack has been dying for years and now that the company is finally about to breathe its last, some of its locations in the Syracuse area are shutting down.
The firm has filed for bankruptcy protection and plans to sell between 1,500 and 2,400 stores to General Wireless, a subsidiary of the retailer’s biggest shareholder. The rest of its stores will close.
The company posted a list of the locations set to shut down on its website. They include stores on Brewerton Road in Cicero, Route 31 in Clay and West Genesee Street in Camillus.
More local stores could join that list as the final sale total to General Wireless comes together. It’s possible that some other area stores were already slated for closure under past rounds of shutdowns announced by the company.
RadioShack hasn’t been able to thrive in the modern era, even though it was one of the first consumer electronics stores. Its shares have been delisted from the New York Stock Exchange and the company has been losing money for years.
The company, headquartered in Texas, has about 5,500 stores nationwide and more than 27,000 employees. It was founded in the 1920s as a distributor of radios and radio parts and was one of the first stores to sell a home computer.
first published: 2015-02-05 21:25:28