95-Year-old electronics retailer RadioShack Bankrupt

Summary: RadioShack, an American electronics retailer who has filed for bankruptcy protection, announced it would sell its retail outlets. The buyer is RadioShack's creditors and largest shareholder, a hedge fund called Standard General. To deal with IS Standard General's subsidiary

RadioShack, an American electronics retailer who has filed for bankruptcy protection, has announced that it will sell its retail outlets. The buyer is RadioShack's creditors and biggest shareholder-a hedge fund called Standard General. To deal with IS Standard General Wireless subsidiary body. The number of outlets sold is between 1500-2400 (RadioShack has 4,100 retail outlets).

Then, the US wireless giant Sprint said in a statement that it had reached an agreement with Standard General that it would take RADIOSHACK1/3 's retail stores, about 1750, to sell Sprint's products and maintain RadioShack's previous products, Services, accessories. General Wireless refused to respond.

Sprint's CEO, Marcelo Claure, said that RadioShack's retail stores were able to quickly expand the impact of Sprint's brand, while RadioShack's perfect location was a big reason for his decision to buy. After the acquisition, the sprint consumers will be greatly relieved of the long queue time problem, the current sprint consumers have to queue for 1-2 hours to buy a mobile phone.

But other potential buyers have a chance, after all, that the deal has not been passed in the Delaware State bankruptcy court. There have been rumors that Amazon would consider taking a call.

RadioShack, based in Texas, has a history of 95 years as a mail-order electronic product. With the impact of the mobile Internet, the ancient retailer Giants began to transform themselves into a "consumer buying center for smartphones". Unfortunately, the transition failed, RadioShack 11 consecutive quarters of losses. In the final stage, RadioShack is still unwilling to embark on the road of bankruptcy and make a lot of changes.

Shutting down 400 retail stores and laying off 19% (a total of 21,000 employees), RadioShack also hoped to close the store more drastically, but was refused by the bank unless RadioShack promised to pay some of the debt and agreed to other agreements; Change the company logo; To rectify the problem of clutter in retail stores, and try to become more technologically powerful retailers through smarter interactive presentations.

Later, we all know that RadioShack total assets of only 1.2 billion U.S. dollars, the debt is as high as 1.39 billion U.S. dollars, completely insolvent, but only to apply for bankruptcy protection. However RadioShack Aspect Heart has unwilling, the company CFO Carlin Adrianopoli jumps out to say, "in RadioShack struggles, the supplier loses the confidence, because we strictly control the cost to offend them".

RadioShack bankruptcy is not an isolated event, which is the tragic fate of traditional retailers. Earlier, two other retail outlets Loehmann ' s Inc. and Borders Group were sold to a debt settlement company and Coldwater Creek.