RadioShack announces plan to close 1,100 stores nationwide as smartphone sales fail to carry company
ABC News reports that RadioShack will close 1,100 stores following a disappointing holiday season and generally unsuccessful attempt to rebrand the chain as the go-to retailer for smartphones and accessories. The number represents about 20% of the electronics shop’s locations. The company previously announced plans to close only 400-700 stores.
That doesn’t mean RadioShack will be disappearing completely, though. Around 4,000 stores are still expected to remain open. While the cell phone business hasn’t been able to keep the entire company afloat, it has apparently provided enough fuel to keep the majority of the stores functional… for now, at least.