The original geek store, RadioShack, is bankrupt. After leading the home electronics revolution for more than 90 years — starting with radio parts, then providing equipment for sound systems, computers, telephones and even drones — it’s downsizing and having to reinvent itself.
RadioShack has about 4,000 company owned stores in the U.S. It filed for bankruptcy protection February 5 and plans to sell between 1,500 and 2,400 stores nationwide to a hedge fund called General Standard. The plan calls for 1,750 Radio Shack stores to be become Sprint stores, a sort of ‘store within a store’.
The remaining are likely to be closed in two rounds, including mall and non-mall stores. RadioShack has released the list. A number are in the Chesapeake Bay area, including seven in the Virginia Beach area, two in Chesapeake, Virginia. The business website, Quartz, redid the list by state. Right now, RadioShack plans to continue online.