Radio Shack May Sell Half Its Stores to Sprint, Shut Down the Rest
The dismantling of struggling consumer electronics retailer RadioShack may be on the horizon, Bloomberg reported Monday.
The brick-and-mortar chain is thinking of selling half its stores to Sprint and then closing the rest, unnamed sources told Bloomberg. There were also discussions over whether Sprint would keep the RadioShack name on the stores in addition to adding Sprint’s branding, or rename the stores entirely, according to the report.
When reached by CNET, both companies declined to issue a comment.
RadioShack has been struggling in recent years, trying to move away from its image as a source for gadget parts and rebrand itself as a more consumer-friendly shop. Despite its efforts, the chain had to close up to 1,100 “underperforming” stores last year.
RadioShack was started by two brothers who opened the first store in 1921 to sell ship equipment and ham radios. It eventually became an iconic retailer of consumer electronics and computer components, but has since had trouble competing with the lower prices of online sellers and the convenience of big-box stores like Walmart.
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