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A major Mexican news magazine had reported in March 2015 that Grupo Gigante actually purchased 100% of the stock in RadioShack de México from RadioShack Corporation for US$31.8 million, two months prior to the bankruptcy filing, but had only had to hand over US$11.8 million to RadioShack Corp. for also assuming approximately US$20 million in ...
By Nick Brown Electronics retailer RadioShack filed for U.S. bankruptcy protection Thursday and said it had a deal in place to sell as many as 2,400 stores to an affiliate of hedge fund Standard ...
But with the rise of Best Buy and Amazon, RadioShack was soon left in the dust. The company filed for bankruptcy in 2015, was acquired by Sprint, and filed for bankruptcy again in 2017.
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[36] [37] [38] Among the terms of this deal were restrictions which prevented RadioShack from closing more than 200 of its 4275 company-owned retail stores a year and limited its ability to refinance, which proved to be a key obstacle leading to that firm's February 2015 Chapter 11 bankruptcy as the chain was forced to keep more than a thousand ...
RadioShack filed for bankruptcy in March 2017 and planned to close 552 stores. This was the company's second bankruptcy filing in two years. [239] A few months later, RadioShack announced the closure of 1,000 stores, leaving only 70 original locations open, not counting those doing business under the REV program. [240]
Best Products – filed for bankruptcy for the second time in September 1996 [33] [34] and closed all of its stores by the following February [35] [36] Brendle's – became bankrupt and liquidated in 1996 [37] [38] Consumers Distributing – sought bankruptcy protection in 1996; Ellman's – acquired by Service Merchandise in 1985 [39] [40]
Radio Shack did, however, issue a statement to CNBC later in the day, saying its balance sheet was strong, with $820 million in liquidity; but, like other companies, it found reason to entertain ...