With the news that Radio Shack has announced Chapter 11 bankruptcy, and a majority of the stores will be closing quickly, many consumers see this as an opportunity to pick up some good bargains.
Twenty Radio Shack stores in western Pennsylvania are on the closure list. The local stores on the 22-page list include: Beaver Falls, Butler, Carnegie, Clarion, Corry, Erie, Greensburg, Greenville, Homestead, Johnstown, Meadville, Monaca, Monroeville, Murrysville, Monaca, Natrona Heights, New Castle,North Huntingdon and Uniontown.
You won’t have much time to shop for reduced prices and all products sold during the going out of business sales are will be as-is, so be careful that what you are buying actually works.
It is also important to be aware that Radio Shack will not accept any returns, or honor any gift cards, after March 7. Store closings will be staggered between Feb. 17 and March 31.
The 94-year-old electronics firm filed for bankruptcy protection on Feb. 7. Radio Shack has a tentative deal to sell as many as 2,400 of its 4,100 stores to an affiliate of hedge fund Standard General, one of its lenders and largest shareholders. But that agreement is subject to higher bids. As part of that deal, Sprint Corp is working with Standard General to sell mobile devices as well as Radio Shack products, services and accessories in at least 1,750 of those stores.
Radio Shack fell victim to competition such as Best Buy and Amazon and failed to keep up with technology. The company tried to re-brand its old image. Last year, one of the most memorable Super Bowl commercials was Radio Shack’s, “The ’80s Called: They Want Their Store Back.” The commercial recruited some of the most memorable ’80s stars and signaled a turn for the better in the company. But the momentum was short-lived, leading to the recent decision to file bankruptcy.