Report: RadioShack Preparing To File For Bankruptcy As Soon As Next Month

[ARCHIVED THREAD] - Report: RadioShack Preparing To File For Bankruptcy As Soon As Next Month

Posted: 1/18/2015 7:39:57 PM EDT

RadioShack’s march toward doom is continuing steadily on, after announcing it would close a bunch of stores, then saying it wouldn’t close as many because even that was too expensive, and telling employees it would no longer match employees’ retirement contributions as of next year, the struggling electronics retailer is reportedly getting ready to file bankruptcy papers.

The filing could come as early as next month, reports the Wall Street Journal, as RadioShack is in talks with lenders who could help provide the cash to cover its operations during the bankruptcy protection proceedings.

The company is also reportedly in talks with a private-equity firm that could be interested in buying its assets out of bankruptcy, but that deal is far from being a sure thing. RadioShack might go the more typical road of reducing its debt and restructuring its operations in bankruptcy court.

Everything could change in the next few weeks, of course, but it seems inevitable that RadioShack has to do something — it’s been bleeding cash and posting losses for 11 straight quarters.

http://consumerist.com/2015/01/15/report-radioshack-preparing-to-file-for-bankruptcy-as-soon-as-next-month/

Posted: 1/18/2015 7:45:51 PM EDT

[#1]

I'm surprised it took this long.

Posted: 1/18/2015 7:46:23 PM EDT

[#2]

Chain should have died 10 years ago.

Posted: 1/18/2015 7:46:36 PM EDT

[#3]

I can't remember how many years it's been since I walked in a Radio Shack and they never had anything I wanted anyway. I don't know how they stayed around this long.

Posted: 1/18/2015 7:55:31 PM EDT

[#4]

best thing about their company is their real estate

Posted: 1/18/2015 7:59:53 PM EDT

[#5]

Yea very surprised theyve last this long. Now who is going to ask for my phone number when I try to buy batteries?

Posted: 1/18/2015 8:00:39 PM EDT

[#6]

The phone shack is closing?

Posted: 1/18/2015 8:02:19 PM EDT

[#7]

Quote History

Quoted:
I'm surprised it took this long.

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Yep.

Honestly...Most Radio Shaks I know of are co located
with other retailers...It's not like what it was in it's heyday.

Posted: 1/18/2015 8:02:45 PM EDT

[#8]

One by me is blowing everything out at 50% off. I cleaned them out of everything ham radio related I could think of the other night.

Posted: 1/18/2015 8:09:13 PM EDT

[#9]

Quote History

Quoted:
One by me is blowing everything out at 50% off. I cleaned them out of everything ham radio related I could think of the other night.

View Quote

Hope the ones around her do that. A digital police scanner might be affordable then.

Posted: 1/18/2015 8:09:40 PM EDT

[#10]

FPNI and exactly what I said.

Posted: 1/18/2015 8:20:12 PM EDT

[#11]

Went into my local RS expecting to see a going out of business sign up but nope. They had NO radios of any kind for sale. Just a lot of phone accessories, RC toys and batteries.

Posted: 1/18/2015 8:28:37 PM EDT

[#12]

Lots of memories going there with my dad when I was a kid, when he would buy parts to build his custom model railroad controllers.

Posted: 1/18/2015 8:30:06 PM EDT

[#13]

So long as they ship my bulbs for my car radio re lamping project IDGAF.

Posted: 1/18/2015 8:34:58 PM EDT

[#14]

i assumed they were all cartel fronts for money laundering. no one goes to radio shack . . .

Posted: 1/18/2015 8:38:13 PM EDT

[#15]

http://www.theonion.com/articles/even-ceo-cant-figure-out-how-radioshack-still-in-b,2190/

Posted: 1/18/2015 8:38:30 PM EDT

[#16]

Quote History

Quoted:
So long as they ship my bulbs for my car radio re lamping project IDGAF.

View Quote

for future projects http://www.digikey.com/

Posted: 1/18/2015 8:40:35 PM EDT

[#17]

Quote History

Quoted:

Lots of memories going there with my dad when I was a kid, when he would buy parts to build his custom model railroad controllers.

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I went there with my grandpa. He was a HAM radio operator and loved to tinker and build.

Posted: 1/18/2015 8:49:52 PM EDT

[#18]

When I finished my MBA in 2002, I had a close buddy I went to classes with get picked-up real-quick by Radio Shack in their "logistics" division... Somewhere in ~Texas? I think...

~~six months later, I ran into him... Thought he was back home on vacation or something. Nope. He quit.

Said, "That was the worst experience of my life."

Said it was the worst-run company he had ever seen, and no amount of money was worth the headache of working there.

Moved back to Utah, and went back to work at the family construction business... We stayed in contact for the years I lived in Utah... He always had a funny "You won't believe the complete-retards who run Radio Shack..." story to tell...

Posted: 1/18/2015 8:50:49 PM EDT

[#19]

About time .

End the misery.

gd

Posted: 1/18/2015 8:54:13 PM EDT

[#20]

Quote History

Quoted:
When I finished my MBA in 2002, I had a close buddy I went to classes with get picked-up real-quick by Radio Shack in their "logistics" division... Somewhere in ~Texas? I think...

~~six months later, I ran into him... Thought he was back home on vacation or something. Nope. He quit.

Said, "That was the worst experience of my life."

Said it was the worst-run company he had ever seen, and no amount of money was worth the headache of working there.

Moved back to Utah, and went back to work at the family construction business... We stayed in contact for the years I lived in Utah... He always had a funny "You won't believe the complete-retards who run Radio Shack..." story to tell...

View Quote

The sad part is that there are so many half-assed run companies out there . Makes a person wonder about the insanity that must reside at the Home Offices.

gd

Posted: 1/18/2015 8:56:34 PM EDT

[#21]

They diversified into the cell phone market years ago, I remember when you could go there and they had drawers of switches, capacitors, leds, etc... You won't find anyone there now that knows anything about the few remaining hobbyist electrical components they have in stock. I'll echo the sentiment that this place should have died 10+ years ago.

Posted: 1/18/2015 8:57:11 PM EDT

[#22]

Where will I test my tubes!?!

Or buy my Fireman's hat with the Light on the top?

Posted: 1/18/2015 9:00:51 PM EDT

[#23]

They might have had a chance if they'd figured out what niche they wanted to be in and stuck with it.

But they changed focus way too much to be taken seriously.

And the 'phone number please' shit really bit them in the ass. I used to avoid them just because of that shit. It would take two or three 'sorry, but no' statements before they'd give up.

Though they finally dropped it. They should have advertised that fact, because I'm sure others had the same bitch about them.

Posted: 1/18/2015 9:01:39 PM EDT

[#24]

About the only thing I buy there anymore are caps, pots & resistors for guitar/amp projects. But they usually don't have what I need so I end up ordering from Digi-Key, Amplified Parts, or Mouser.

The soldering station I bought a couple years ago is ok, but it's obvious that it was cheaply made. They've really gone downhill.

Posted: 1/18/2015 9:03:05 PM EDT

[#25]

marijuana legalization has cut into their profits

Posted: 1/18/2015 9:03:17 PM EDT

[#26]

Quote History

Quoted:

Where will I test my tubes!?!

http://img.photobucket.com/albums/v493/buyusfear/Vintagetubetester1.jpg

Or buy my Fireman's hat with the Light on the top?

http://www.antiquesnavigator.com/ebay/images/2011/270856429166.jpg

View Quote

Fuuuuck, I would love to have that tester.

Posted: 1/18/2015 9:03:34 PM EDT

[#27]

This is the second...or third time, now?

Posted: 1/18/2015 9:04:29 PM EDT

[#28]

I remember a neighborhood kid a 2 channel realistic walkie talkie that was way cooler than the crappy but worked pair I had - he got it at radio shack when that was the place to go for electronics back in the 70's

Posted: 1/18/2015 9:06:31 PM EDT

[#29]

Used to love going in there and buying little parts to make things. Could even ask the workers for advice and they know what value potentiometer or what cap to use... those days are LONG gone. Clock radios and cell phones you can get cheaper anywhere else is not a really stout business plan.

Posted: 1/18/2015 9:06:34 PM EDT

[#30]

No more battery of the month club

Posted: 1/18/2015 9:09:12 PM EDT

[#31]

Quote History

Quoted:
One by me is blowing everything out at 50% off. I cleaned them out of everything ham radio related I could think of the other night.

View Quote

The one by me has like 6 cellphone displays and HDMI cables.

There are places that still do radiostuff?

Posted: 1/18/2015 9:15:01 PM EDT

[#32]

Not surprising. About all they do anymore is sell cell phones, and there is no reason to buy them there.

I went in one recently for capacitors to make speaker crossovers. If I didn't know exactly what I needed, I would have been screwed, because the employee sure didn't know what I was talking about.

Posted: 1/18/2015 9:20:13 PM EDT

[#33]

Quote History

Quoted:
Or buy my Fireman's hat with the Light on the top?

View Quote

I had that as a kid. Loved it.

Posted: 1/18/2015 9:23:43 PM EDT

[#34]

Quote History

Quoted:

This is the second...or third time, now?

View Quote

http://www.ar15.com/forums/t_1_5/1707574_Radio_Shack_preparing_to_file_bankruptcy_next_month.html

Posted: 1/18/2015 9:24:07 PM EDT

[#35]

No idea how they afford the rents on some of the locations where I live where the shopping centers went upscale around them.

Boutique, boutique, urba hipster restaurant, blow dry bar, Radio Shack, Willams Sanoma

Posted: 1/18/2015 9:26:49 PM EDT

[#36]

Walked into RS about 3 months ago.

Associate: "Can I help you?'

Me: "I doubt it."

Pretty much sums it up.

Posted: 1/18/2015 9:35:09 PM EDT

[#37]

Quote History

Quoted:

Yea very surprised theyve last this long. Now who is going to ask for my phone number when I try to buy batteries?

View Quote

Came here to post this... I know that was sort of phased out but still it was an effective way to alienate customers for the two decades or so they did it.

Posted: 1/18/2015 9:38:34 PM EDT

[#38]

FPNI.

They should have gone out in the 90's.

Posted: 1/18/2015 9:38:38 PM EDT

[#39]

I used to love going there as a kid. Haven't been in one for years, and the last time I went they were way overpriced on what they had. Like a lot of you I'm surprised they're still around

Posted: 1/18/2015 9:56:41 PM EDT

[#40]

Quote History

Quoted:
I can't remember how many years it's been since I walked in a Radio Shack and they never had anything I wanted anyway. I don't know how they stayed around this long.

View Quote

In and odd way, I am going to miss them.

The nearest electronics store to most of my projects are the neighborhood Radio Shacks.
Every once and a while, I overlook a part when ordering for a project. In most cases it is cheaper to pay their crazy prices for stuff then to delay the entire project until parts are shipped or make the hour+ trip to Frys.

[ARCHIVED THREAD] - Report: RadioShack Preparing To File For Bankruptcy As Soon As Next Month

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