RadioShack
{{Short description|American electronics store chain}}
{{About|the electronics retailer|a radio communications room|Radio shack}}
{{Use mdy dates|date=February 2023}}
{{Infobox company
| name = RadioShack
| logo = RadioShack Logo 2013.png
| logo_size =
| logo_caption = Logo used from 2013 to 2015 and since 2023
| image = RadioShack Exterior Modified.jpg
| image_caption = The exterior of a typical free-standing RadioShack store in Texarkana, Texas (2006)
| trading_name =
| predecessors =
| founded = {{start date and age|1921}}
Boston, Massachusetts, US
| founders = Theodore and Milton Deutschmann
| defunct =
| location = Fort Worth, Texas, US
| num_locations = Approximately 400 authorized dealers in the US{{efn|Down from a peak of 7,300 locations in the 1990s.{{Cite web |title=The Golden Age of Radio Shack Toys |url=https://www.pcmag.com/news/the-golden-age-of-radio-shack-toys |access-date=2023-05-05 |website=PCMAG |language=en}}}}
Various international locations
| area_served =
| industry = E-commerce, retail
| key_people = Alex Mehr (CEO){{Cite news |title=Stay tuned: RadioShack owner optimistic about new contract |url=https://www.wiscnews.com/community/baraboonewsrepublic/stay-tuned-radioshack-owner-optimistic-about-new-contract/article_5771250f-705e-5e56-9dac-ee41bcee244b.html |last=Gittings |first=John |date=July 25, 2022 |access-date=August 5, 2022 |work=Baraboo News Republic}}
| products = Consumer electronics
| services =
| operating_income =
| net_income =
| assets =
| equity =
| divisions =
| subsid =
| website = {{URL|https://radioshack.com}}
| footnotes =
| former_name = Radio Shack Corporation (1921–1962)
Tandy Corporation (1962–2000)
RadioShack Corporation (2000–2015)
General Wireless Operations Inc. (2015–2020)
| parent = General Wireless IP Holdings LLC (2015–2020)
Retail ECommerce Ventures (2020–2023)
Unicomer Group (2023–present)
}}
RadioShack (formerly written as Radio Shack) is an American electronics retailer that was established in 1921 as an amateur radio mail-order business. Its parent company was purchased by Tandy Corporation in 1962, which shifted its focus from mail-order radio equipment to hobbyist electronics sold at retail. Tandy ended the mail-order business, opened small stores staffed by people who knew electronics, greatly reduced the number of items carried, and replaced name-brand products with private-label items from lower-cost manufacturers. These moves were successful and the brand grew.
In the late 1970s, the company branched into personal computers, and in the 1990s, it began to focus on wireless phones and de-emphasize the hobbyist market. RadioShack reached its peak in 1999, when Tandy operated over 8,000 stores in the United States, Mexico, and Canada, and under the Tandy name in The Netherlands, Belgium, Germany, France, the United Kingdom, and Australia. However, its sales strategy increasingly competed with big-box stores and dedicated wireless phone retailers, and it fell into decline.
In February 2015, after years of management crises, poor worker relations, diminished revenue, and 11 consecutive quarterly losses, RadioShack was delisted from the New York Stock Exchange and subsequently filed for Chapter 11 bankruptcy.{{Cite web|url=http://www.pacermonitor.com/view/AKIMBNI/RadioShack_Corporation__debke-15-10197__0001.0.pdf |title=PacerMonitor Document View - 1:15-bk-10197 - RadioShack Corporation Bankruptcy, Docket Item 1|website=Pacermonitor.com|access-date=May 23, 2016}} In May 2015, the company's assets were purchased by General Wireless, a subsidiary of Standard General, for US$26.2 million.{{Cite news|url=https://www.wsj.com/articles/standard-general-wins-auction-of-radioshack-brand-1431520464|title=Standard General Wins Auction of RadioShack Brand|last=Brickley|first=Peg|newspaper=Wall Street Journal|date=May 13, 2015|language=en-US|access-date=August 21, 2019}} In March 2017, General Wireless and subsidiaries also filed for bankruptcy{{cite news|url=https://www.latimes.com/business/la-fi-radioshack-bankruptcy-20170309-story.html |title=RadioShack files for bankruptcy protection for the second time in two years|date=March 9, 2017|access-date=March 9, 2017|website=Los Angeles Times|via=Associated Press}} and RadioShack announced plans to shift its business primarily online.{{cite press release|url=http://www.prnewswire.com/news-releases/last-chance-for-store-closing-deals-at-your-neighborhood-radioshack-come-innovate-with-us-one-last-time-300464748.html |access-date=May 30, 2017|date=May 26, 2017|title=Last Chance For Store Closing Deals At Your Neighborhood RadioShack! Come Innovate With Us One Last Time|website=prnewswire.com}} RadioShack was acquired by Retail Ecommerce Venture{{cite news |last1=Al-Muslim |first1=Aisha |title=Retail Entrepreneurs Buy Twice-Bankrupt RadioShack With Plans for Online Revival |url=https://www.wsj.com/articles/retail-entrepreneurs-buy-twice-bankrupt-radioshack-with-plans-for-online-revival-11605781802 |newspaper=Wall Street Journal |date=November 19, 2020 |access-date=December 30, 2021}} and RadioShack operated primarily as an e-commerce website with a network of independently owned and franchised RadioShack stores. In May 2023, the El Salvador-based franchisee Unicomer Group acquired control of the worldwide RadioShack business.{{Cite web |last=Release |first=Press |date=2023-05-30 |title=Radioshack Global brand now acquired by the Unicomer Group |url=https://www.stvincenttimes.com/radioshack-global-brand-now-acquired-by-the-unicomer-group/ |access-date=2023-08-02 |website=St Vincent Times |language=en-US}}
History
= The first 40 years =
The company was started as Radio Shack in 1921 by two brothers, Theodore and Milton Deutschmann, who wanted to provide equipment for the new field of amateur radio (also known as ham radio). The brothers opened a one-store retail and mail-order operation in the heart of downtown Boston at 46 Brattle Street. They chose the name "Radio Shack", which was the term for a small, wooden structure that housed a ship's radio equipment. The Deutschmanns thought the name was appropriate for a store that would supply the needs of radio officers aboard ships, as well as hams (amateur radio operators). The idea for the name came from an employee, Bill Halligan,{{citation needed|date=February 2020}} who went on to form the Hallicrafters company. The term was already in use — and is to this day — by hams when referring to the location of their stations.{{cite book|last=Silver|first=H. Ward|date=August 2013|title=Ham Radio For Dummies|publisher=Wiley Publishing|isbn=9780764559877}}
The company issued its first catalog in 1939{{Cite web|url=http://www.radioshackcatalogs.com/|title=Radio Shack Catalogs|website=Radioshackcatalogs.com|access-date=May 23, 2016}} as it entered the high-fidelity music market. In 1954, Radio Shack began selling its own private-label products under the brand name Realist, changing the brand name to Realistic after being sued by Stereo Realist.
During the period the chain was based in Boston, it was commonly referred to disparagingly by its customers as "Nagasaki Hardware",{{Cite book|last=Farman|first=Irvin|url=https://archive.org/details/Tandys_Money_Machine_1992_Mobium_Press|title=Tandy's money machine : how Charles Tandy built Radio Shack into the world's largest electronics chain|date=1992|publisher=Chicago : Mobium Press|isbn=9780916371128}}{{Cite web|url=http://qrp.kd4ab.org/1996/961225/0013.html|title=QRP-L 961225: Re: QRP-L digest 585|website=qrp.kd4ab.org|access-date=March 18, 2020}}{{Cite web|url=http://forums.radioreference.com/threads/has-anyone-used-one-of-those-j-pole-antennas-on-a-pro-96-handheld-scannner.125625/|title=Has Anyone Used One Of Those J-pole Antennas On A Pro 96 Handheld Scannner?|website=RadioReference.com Forums|date=November 23, 2008 |language=en-US|access-date=March 18, 2020}} as much of the merchandise was sourced from Japan, then perceived as a source of low-quality, inexpensive parts.
In 1959, the store moved its headquarters to 730 Commonwealth Avenue in Boston (across the street from Boston University's Marsh Chapel), with ambitious plans for further expansion.{{cite web |title=1959 Radio Shack Catalog |url=https://www.radioshackcatalogs.com/flipbook/1959_radioshack_catalog.html?fb3d-page=228 |website=www.radioshackcatalogs.com |access-date=2023-03-08}}{{rp|234}} After expanding to nine stores plus an extensive mail-order business,{{cite journal|journal=Popular Mechanics|date=November 1962|url=https://books.google.com/books?id=2NsDAAAAMBAJ&q=leisurama+now&pg=PA231|title=Radio Shack Corporation 1963 Electronics Catalog advertisement|page=235}} the company fell on hard times in the early 1960s.{{cite web |title=Value Proposition: How Radio Shack lost its way by losing sight of its ideal customer |url=https://marketingexperiments.com/value-proposition/how-radio-shack-lost-sight-of-its-ideal-customer |website=MarketingExperiments |access-date=March 8, 2021 |date=March 16, 2015}}{{cite web |title=Value Prop: How Radio Shack lost its way by losing sight of its ideal customer, Pt. 2 |url=https://marketingexperiments.com/value-proposition/radio-shack-value-prop-part-2 |website=MarketingExperiments |access-date=March 8, 2021 |date=March 19, 2015}}{{cite web |title=Value Prop: How Radio Shack lost its way by losing sight of its ideal customer, Pt. 3 |url=https://marketingexperiments.com/value-proposition/radio-shack-value-prop-part |website=MarketingExperiments |access-date=March 8, 2021 |date=March 23, 2015}}{{cite web |title=RadioShack through the ages: 8 adorable images from the fallen giant's vault |url=https://www.pcworld.com/article/2460168/these-old-timey-radio-shack-photos-prove-techies-have-been-nerding-out-since-1931.html |website=PCWorld |access-date=March 8, 2021 |language=en |date=February 2, 2015}}
= Tandy Corporation =
{{Main|Tandy Corporation}}
{{plain image with caption|Radio Shack 1974 logo.svg|Former RadioShack logo (1972–1995)}}
Tandy Corporation, a leather goods corporation, was looking for other hobbyist-related businesses into which it could expand. Charles D. Tandy saw the potential of Radio Shack and retail consumer electronics, purchasing the company in 1962 for US$300,000.{{cite web|title=RadioShack History |url=http://radioshackcorporation.com/company/history.php |website=RadioShack Corp |access-date=August 3, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20111012185240/http://www.radioshackcorporation.com/company/history.php |archive-date=October 12, 2011 }}
At the time of the Tandy Radio Shack & Leather 1962 acquisition,{{Cite news|url=https://www.forbes.com/sites/antoinegara/2015/02/05/radioshack-cuts-the-cord-after-90-years-files-for-bankruptcy/#3ce88a194d6d|title=RadioShack Cuts The Cord After 94 Years, Files For Bankruptcy|last=Gara|first=Antoine|work=Forbes|access-date=October 16, 2018|language=en}} the Radio Shack chain was nearly bankrupt.{{Cite news|url=https://dealbook.nytimes.com/2014/09/16/for-radioshack-a-history-of-misses/|title=A History of Misses for RadioShack|last=Solomon|first=Steven Davidoff|work=DealBook|date=September 16, 2014 |access-date=October 16, 2018|language=en}}
Tandy's strategy was to appeal to hobbyists. It created small stores that were staffed by people who knew electronics, and sold mainly private brands.{{Cite news|url=https://business.financialpost.com/news/retail-marketing/inside-radioshacks-slow-motion-collapse-why-the-fall-of-the-94-year-old-electronics-chain-didnt-have-to-be-this-way|title=Inside RadioShack's slow-motion collapse: Why the fall of the 94-year-old electronics chain didn't have to be this way|date=February 6, 2015|work=Financial Post|access-date=October 16, 2018|language=en-US}} Tandy closed Radio Shack's unprofitable mail-order business, ended credit purchases and eliminated many top management positions, keeping the salespeople, merchandisers and advertisers. The number of items carried was cut from 40,000 to 2,500, as Tandy sought to "identify the 20% that represents 80% of the sales" and replace Radio Shack's handful of large stores with many "little holes in the wall", large numbers of rented locations which were easier to close and re-open elsewhere if one location didn't work out. Private-label brands from lower-cost manufacturers displaced name brands to raise Radio Shack profit margins;{{Citation needed|date=October 2018}} non-electronic lines from go-carts to musical instruments were abandoned entirely.{{cite web|url=http://news.investors.com/management-leaders-in-success/071210-540013-charles-tandy-the-spark-behind-radioshack.htm?p=full |title=Charles Tandy, The Spark Behind RadioShack |author=Seitz, Patrick |work=Investor's Business Daily |url-status=dead |archive-url=https://web.archive.org/web/20150209193559/http://news.investors.com/management-leaders-in-success/071210-540013-charles-tandy-the-spark-behind-radioshack.htm?p=full |archive-date=February 9, 2015 }}{{Citation needed|date=October 2018}}
Customer data from the former RadioShack mail-order business determined where Tandy would locate new stores. As an incentive for them to work long hours and remain profitable, store managers were required to take an ownership stake in their stores. In markets too small to support a company-owned Radio Shack store, the chain relied on independent dealers who carried the products as a sideline.{{cite news|url=https://money.cnn.com/2015/02/05/news/companies/radioshack-franchises/index.html|title=My RadioShack franchise store will be fine|author=Ben Rooney|date=February 5, 2015|work=CNNMoney}} Charles D. Tandy said "We're not looking for the guy who wants to spend his entire paycheck on a sound system", instead seeking customers "looking to save money by buying cheaper goods and improving them through modifications and accessorizing", making it common among "nerds" and "kids aiming to excel at their science fairs".
Charles D. Tandy, who had guided the firm through a period of growth in the 1960s and 1970s, died of a heart attack at age 60 in November 1978.{{Cite news|url=https://www.nytimes.com/1978/11/06/archives/charles-tandy-60-industrialist-started-work-at-12-400-radio-shacks.html|title=Charles Tandy, 60, Industrialist|work=The New York Times |date=November 6, 1978 |access-date=October 16, 2018|language=en}}
In 1982, the breakup of the Bell System encouraged subscribers to own their own telephones instead of renting them from local phone companies; Radio Shack offered twenty models of home phones.{{cite web|url=https://news.google.com/newspapers?nid=1346&dat=19821018&id=dmRNAAAAIBAJ&pg=6582,1056994|title=Advantages, disadvantages of owning your telephone |work=page C1, Life/Style, Lakeland (Florida) Ledger - October 18, 1982 }}
Much of the Radio Shack line was manufactured in the company's own factories. By 1990/1991, Tandy was the world's biggest manufacturer of personal computers; its OEM manufacturing capacity was building hardware for Digital Equipment Corporation, GRiD, Olivetti, AST Computer, Panasonic, and others. The company manufactured everything from store fixtures to computer software to wire and cable, TV antennas, audio and videotape.{{cite web |url=http://nemesis.lonestar.org/tandy/radio_shack_farewell.html |title=Goodbye, Radio Shack |archiveurl=https://web.archive.org/web/20150209194615/http://nemesis.lonestar.org/tandy/radio_shack_farewell.html |archivedate=February 9, 2015}}, 2015, Frank Durda IV, former Senior Project Software Engineer with the Tandy Electronics System Software division At one point, Radio Shack was the world's largest electronics chain.{{cite book |title=Tandy's Money Machine: How Charles Tandy Built Radio Shack into the World's Largest Electronics Chain |date=1992 |first=Irvin |last=Farman |location=Chicago |publisher=Mobium Press |isbn=978-0-916371-12-8 |url-access=registration |url=https://archive.org/details/tandysmoneymachi00farm }}
In June 1991, Tandy closed or restructured its 200 Radio Shack Computer Centers,{{cite news |author=Marianne Taylor |url=https://www.chicagotribune.com/1991/06/30/superstore-idea-taking-hold-for-pcs/ |title=Superstore Idea Taking Hold For PCs |newspaper=Chicago Tribune |date=June 30, 1991 |access-date=February 16, 2015}} acquired Computer City, and attempted to shift its emphasis away from components and cables, toward mainstream consumer electronics.{{cite news |author=Fort Worth Star-Telegram |url=http://articles.sun-sentinel.com/1992-01-27/business/9201050531_1_radio-shack-consumer-electronics-transistor-radios |title=Tandy's Radio Shack Retooling Image |newspaper=Sun Sentinel |date=January 27, 1992 |access-date=February 12, 2015 |archive-date=February 12, 2015 |archive-url=https://web.archive.org/web/20150212003930/http://articles.sun-sentinel.com/1992-01-27/business/9201050531_1_radio-shack-consumer-electronics-transistor-radios |url-status=dead }} Tandy sold its computer manufacturing to AST Research in 1993,{{cite news|url=https://www.latimes.com/archives/la-xpm-1993-10-19-fi-47364-story.html |title=Tandy to Sell Its Memtek Division for $65 Million: Electronics: The sale is in line with the company's plans to divest its non-retail businesses. |newspaper=Los Angeles Times |date=October 19, 1993 |access-date=February 12, 2015}} including the laptop computer Grid Systems Corporation which it had purchased in 1988.{{cite news|url=https://www.nytimes.com/1988/03/17/business/tandy-to-buy-grid-systems.html |title=Tandy to Buy Grid Systems |newspaper=NY Times |date=March 17, 1988 |access-date=February 14, 2015}} It sold the Memorex consumer recording trademarks to a Hong Kong firm,{{cite news |url=https://www.nytimes.com/1993/11/12/business/company-news-tandy-to-sell-memorex-name-to-hong-kong-company.html |title=Tandy To Sell Memorex Name To Hong Kong Company |newspaper=NY Times |date=November 12, 1993 |access-date=February 12, 2015}} and divested most of its manufacturing divisions. House-brand products, which Radio Shack had long marked up heavily, were replaced with third-party brands already readily available from competitors. This reduced profit margins.
In 1992, Tandy attempted to launch big-box electronics retailer Incredible Universe;{{cite news |url=https://www.nytimes.com/1992/10/27/business/tandy-ventures-into-the-unknown.html?pagewanted=all |title=Tandy Ventures Into the Unknown |work=The New York Times |date=October 27, 1992 |access-date=July 26, 2015 |author=Hayes, Thomas C. |quote=Unlike the small, 2,500-square-foot Radio Shacks, where fat gross profit margins and slow inventory turnovers are the norm, Tandy's two new Incredible Universe stores stress volume. They sell a dizzying breadth of branded products, from video games to washing machines, for low prices in 160,000-square-foot warehouse settings. .... "This is the most aggressive thing that this company has done; the most innovative thing since Radio Shack," said Eugene G. Glazer, a technology analyst at Dean Witter in New York. "It's very clear that the formula that worked for Tandy in the 1970s did not work well in the 1980s and will be radically changed in the 1990s."}} most of the seventeen stores never turned a profit. Its six profitable stores were sold to Fry's Electronics in 1996; the others were closed.{{cite web |url=http://lubbockonline.com/news/123196/tandy.htm|archive-url=https://web.archive.org/web/19970526052351/http://www.lubbockonline.com/news/123196/tandy.htm |url-status=dead |archive-date=May 26, 1997|title=Tandy decides to sell or close the Incredible Universe stores |work=lubbockonline.com}} Other rebranding attempts included the launch or acquisition of chains including McDuff, Video Concepts and the Edge in Electronics; these were larger stores which carried TVs, appliances and other lines.{{cite news|author=Christine Winter |url=https://www.chicagotribune.com/1985/12/01/tandy-dandy-after-long-slump/ |title=Tandy Dandy After Long Slump |newspaper=Chicago Tribune |date=December 1, 1985 |access-date=February 16, 2015}}
Tandy closed the McDuff stores and abandoned Incredible Universe in 1996, but continued to add new RadioShack stores.{{Cite web|url=https://news.google.com/newspapers?nid=1346&dat=19970125&id=gE5IAAAAIBAJ&sjid=CP0DAAAAIBAJ&pg=7008,1983274|title=Lakeland Ledger - Google News Archive Search|website=News.google.com|access-date=March 25, 2022}} By 1996, industrial parts suppliers were deploying e-commerce to sell a wide range of components online;{{cite journal|last=Kumagai |first=Jean |url=https://blog.adafruit.com/2014/02/04/slideshow-a-day-in-the-life-of-digi-key/ |title=Slideshow: A Day in the Life of Digi-Key |publisher=Adafruit |date=February 4, 2014 |access-date=March 18, 2016}} it would be another decade before RadioShack would sell parts from its website,{{cite news|author=Aimée Picchi |url=https://cbsnews.com/news/5-mistakes-that-doomed-radioshack/ |title=5 mistakes that doomed RadioShack |work=CBS News |date=February 3, 2015 |access-date=February 10, 2015}} with a selection so limited that it was no rival to established industrial vendors with million-item specialised, centralised inventories.
In 1994, the company introduced a service known as "The Repair Shop at Radio Shack",{{Cite news |last=Jones |first=Kathryn |date=August 23, 1994|title=Fix-It Service Remodels Radio Shack|language=en-US|work=The New York Times|url=https://www.nytimes.com/1994/08/23/business/fix-it-service-remodels-radio-shack.html|access-date=May 24, 2020|issn=0362-4331}} through which it provided inexpensive out-of-warranty repairs for more than 45 different brands of electronic equipment.{{cite news|url=https://www.chicagotribune.com/1994/08/11/tandy-adding-repair-service-for-electronics/|title=Tandy Adding Repair Service For Electronics|work=Chicago Tribune | date=August 11, 1994}} The company already had over one million parts in its extensive parts warehouses and 128 service centers throughout the US and Canada;{{cite web|url=http://www.secinfo.com/d2U1e.a5.htm |title=Radioshack Corp - '10-K' for 12/31/94 |publisher=SEC Info |access-date=February 23, 2015}} it hoped to leverage these to build customer relationships and increase store traffic. Len Roberts, president of the Radio Shack division since 1993, estimated that the new repair business could generate $500 million per year by 1999.{{cite news |url = https://www.nytimes.com/1994/08/23/business/fix-it-service-remodels-radio-shack.html |author = Kathryn Jones |title = Fix-It Service Remodels Radio Shack |access-date = May 25, 2009 |work=The New York Times |date=August 23, 1994}}
"America's technology store" was abandoned for the "you've got questions, we've got answers" slogan in 1994.{{Cite web|url=https://news.google.com/newspapers?nid=861&dat=19940519&id=IIpaAAAAIBAJ&sjid=dEsDAAAAIBAJ&pg=5614,3990028|title=The Victoria Advocate - Google News Archive Search|website=News.google.com|access-date=March 25, 2022}} In early summer 1995, the company changed its logo; "Radio Shack" was spelled in camel case as "RadioShack". In 1996, RadioShack successfully petitioned the US Federal Communications Commission to allocate frequencies for the Family Radio Service, a short-range walkie-talkie system that proved popular.[https://news.google.com/newspapers?nid=1320&dat=19970310&id=CgBRAAAAIBAJ&sjid=L-sDAAAAIBAJ&pg=4260,2603775 The Big Picture], Gainesville Sun, "WorkLife" page 12, March 10, 1997
== Battery of the Month ==
From the 1960s until the early 1990s, Radio Shack promoted a "battery of the month" club; a free wallet-sized cardboard card offered one free Enercell per month in-store.{{cite news|url=https://news.google.com/newspapers?nid=1499&dat=19691124&id=N94jAAAAIBAJ&pg=1292,2214851|newspaper=Milwaukee Journal|title=full-page Radio Shack advertisement|page=15|date=November 24, 1969}}{{Dead link|date=March 2024 |bot=InternetArchiveBot |fix-attempted=yes }} Like the free vacuum tube testing offered in-store in the early 1970s,{{cite web |url=https://news.google.com/newspapers?nid=2519&dat=19730118&id=DMhdAAAAIBAJ&pg=4048,2396113 |title=Advertisement for local Radio Shack store opening |publisher=Observer-Reporter, Washington, Pennsylvania |page=B5|date=January 18, 1973}} this small loss leader drew foot traffic. The cards also served as generic business cards for the salespeople.
== Allied Radio ==
In 1970, Tandy Corporation bought Allied Radio Corporation (both retail and industrial divisions), merging the brands into Allied Radio Shack and closing duplicate locations. After a 1973 federal government review, the company sold off the few remaining Allied retail stores and resumed using the Radio Shack name. Allied Electronics, the firm's industrial component operation, continued as a Tandy division until it was sold to Spartan Manufacturing in 1981.{{Cite web|title=Allied History|url=http://www.alliedelec.com/alliedhistory.aspx|publisher=Allied Electronics|access-date=August 3, 2010|archive-date=June 12, 2010|archive-url=https://web.archive.org/web/20100612200920/http://www.alliedelec.com/alliedhistory.aspx|url-status=dead}}{{citation needed|date=November 2021}}
== Flavoradio ==
File:Realistic 12-166 Flavoradio (9389739500).jpg
The longest-running product for Radio Shack was the AM-only Realistic Flavoradio, sold from 1972 to 2000, 28 good years in three designs. This also made the Flavoradio the longest production run in radio history.{{citation needed|date=April 2020}} It was originally released in five colors in the 1972 catalog: vanilla, chocolate, strawberry, avocado, and plum. For 1973, vanilla and chocolate were dropped (and thus are rare today{{when|date=January 2023}}) and replaced by lemon and orange. At some point two-tone models with white backs were offered but never appeared in catalogs; these are extremely rare today.
The original design had five transistors (model 166). A sixth was added in 1980 (model 166a). The case was redesigned for 1987, making it taller and thinner, and it came in red, blue, and black. The final model, 201a, came in 1996 and was designed around an integrated circuit. They were first made in Korea then Hong Kong and finally the Philippines. The Flavoradio carried the Realistic name until about 1996, when it switched to "Radio Shack", then finally "Optimus". When the Flavoradio was dropped from the catalog in 2001, it was the last AM-only radio on the market.{{cite web |last1=Blahut |first1=Bohus |title=Radio Shack's Classic Flavoradio |url=http://www.retrothing.com/2010/04/radio-shacks-classic-flavoradio.html |website=Retro thing |publisher=Grahame & Blahut |access-date=June 2, 2016}}
== CB radio ==
File:Realistic and RadioShack TRC-222.jpg
The chain profited from the mass popularity of citizens band radio in the mid-1970s which, at its peak, represented nearly 30% of the chain's revenue.{{cite journal |last1=Bartimo|first1=John|title=Radio Shack Polishes its Image|journal=InfoWorld|date=August 20, 1984 |volume=6 |issue=34 |page=48 |url=https://books.google.com/books?id=HS8EAAAAMBAJ&q=CB+radios |access-date=February 8, 2015}}
== Home computers ==
In 1977, two years after the MITS Altair 8800, Radio Shack introduced the TRS-80, one of the first mass-produced personal computers.{{cite magazine|last=McCracken |first=Harry |url=https://techland.time.com/2012/08/03/trs-80/ |title=Please Don't Call It Trash-80: A 35th Anniversary Salute to Radio Shack's TRS-80 |magazine=TIME |date=August 3, 2012 |access-date=February 15, 2015}} This was a complete pre-assembled system at a time when many microcomputers were built from kits, backed by a nationwide retail chain when computer stores were in their infancy. Sales of the initial, primitive US$600 (equal to ${{Inflation|US|600|1977|fmt=c}} today) TRS-80 exceeded all expectations despite its limited capabilities and high price.{{cite book |last1=Welsh |first1=Theresa |last2=Welsh |first2=David |title=Priming the Pump: How TRS-80 Enthusiasts Helped Spark the PC Revolution|date=2007 |publisher=The Seeker Books |isbn=978-0-9793468-1-1 |pages=2–4 |url=https://books.google.com/books?id=-yjr5lAji1wC&pg=PT4 |access-date=February 8, 2015}} This was followed by the TRS-80 Color Computer in 1980, designed to attach to a television. Tandy also inspired the Tandy Computer Whiz Kids (1982–1991), a comic-book duo of teen calculator enthusiasts who teamed up with the likes of Archie and Superman.{{cite web |url=http://www.radioshackcatalogs.com/whiz_kids_comics.html |archive-url=https://web.archive.org/web/20150102210139/http://www.radioshackcatalogs.com/whiz_kids_comics.html |title=Radio Shack Comic Books: Tandy Computer Whiz Kids|archive-date=January 2, 2015|work=radioshackcatalogs.com}} Radio Shack's computer stores offered lessons to pre-teens as "Radio Shack Computer Camp" in the early 1980s.{{cite web |url=https://money.cnn.com/2015/02/10/technology/radioshack-computer-camp/index.html |title=My week at RadioShack Computer Camp in 1983 |publisher=CNN Money |date=February 10, 2015 |access-date=February 14, 2015 |first=Andrew |last=Bergmann}}
By September 1982, the company had more than 4,300 stores, and more than 2,000 independent franchises in towns not large enough for a company-owned store. The latter also sold third-party hardware and software for Tandy computers, but company-owned stores did not sell or even acknowledge the existence of non-Tandy products.{{Cite magazine |last=Shea |first=Tom |date=September 13, 1982 |title=All others sell at list price; we deal |url=https://books.google.com/books?id=EDAEAAAAMBAJ&pg=PA11 |magazine=InfoWorld |page=11 |access-date=March 17, 2019 |via=Google Books}} In the mid-1980s, Radio Shack began a transition from its proprietary 8-bit computers to its proprietary IBM PC compatible Tandy computers, removing the "Radio Shack" name from the product in an attempt to shake off the long-running nicknames "Radio Scrap"{{cite journal|last=Lendino |first=Jamie |url=https://www.pcmag.com/article2/0,2817,2476216,00.asp |title=RadioShack Is On its Deathbed |journal=PCMag |date=February 3, 2015 |access-date=February 16, 2015}} and "Trash 80"{{cite news|url=http://www.tylerpaper.com/TP-My+Generation/213481/remembering-the-trash80 |title=Remembering the Trash-80 |newspaper=Tyler Morning Telegraph |date=February 10, 2015 |access-date=February 16, 2015}} to make the product appeal to business users. Poor compatibility, shrinking margins and a lack of economies of scale led Radio Shack to exit the computer-manufacturing market in the 1990s after losing much of the desktop PC market to newer, price-competitive rivals like Dell. Tandy acquired the Computer City chain in 1991, and sold the stores to CompUSA in 1998.
In 1994, RadioShack began selling IBM's Aptiva line of home computers.{{cite press release|url-status=dead|archive-url=https://web.archive.org/web/20180714021322/https://www.thefreelibrary.com/Radio+Shack+adds+hot+new+IBM+Aptiva+MPC+to+name-brand+computer+line.-a015914929|url=https://www.thefreelibrary.com/Radio+Shack+adds+hot+new+IBM+Aptiva+MPC+to+name-brand+computer+line.-a015914929|archive-date=July 14, 2018|access-date=September 17, 2019|date=November 9, 1994|via=Business Wire|title=Radio Shack adds hot new IBM Aptiva MPC to name-brand computer line. }} This partnership would last until 1998, when RadioShack partnered with Compaq and created 'The Creative Learning Center' as a store-within-a-store to promote desktop PCs.{{cite web |url=http://corpinfo.radioshack.com/investor/annualreports/97/ops_computers.htm |title=RadioShack Computers – 1997 Annual Report |publisher=RadioShack.com |date=1997 |access-date=February 12, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150212025433/http://corpinfo.radioshack.com/investor/annualreports/97/ops_computers.htm |archive-date=February 12, 2015}} Similar promotions were tried with 'The Sprint Store at RadioShack' (mobile telephones), 'RCA Digital Entertainment Center' (home audio and video products), and 'PowerZone' (RadioShack's line of battery products, power supplies, and surge protectors).{{cite web |url=http://www.lippincott.com/en/news/radioshack-and-compaq-form-brand-alliance-with-the-creative-learning-center |title=RadioShack and Compaq form Brand Alliance with 'The Creative Learning Center' |publisher=Lippincott |date=August 31, 1998 |access-date=February 12, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20160224215259/http://www.lippincott.com/en/news/radioshack-and-compaq-form-brand-alliance-with-the-creative-learning-center/ |archive-date=February 24, 2016}}
= RadioShack Corporation =
File:RadioShack 1200587 (9386877759).jpg
In the mid-1990s, the company attempted to move out of small components and into more mainstream consumer markets, focusing on marketing wireless phones. This placed the chain, long accustomed to charging wide margins on specialized products not readily available from other local retailers, into direct competition against vendors such as Best Buy and Walmart.{{cite news |url=https://www.forbes.com/sites/panosmourdoukoutas/2015/02/05/who-killed-radioshack/ |title=Who Killed RadioShack? |author=Panos Mourdoukoutas |date=February 5, 2015|work=Forbes}}
In May 2000, the company dropped the Tandy name altogether, becoming RadioShack Corporation.{{Cite web|title=Tandy changes name to Radio Shack|url=https://www.zdnet.com/article/tandy-changes-name-to-radio-shack/|website=Zdnet.com|language=en|access-date=May 24, 2020}} The leather operating assets were sold to The Leather Factory on November 30, 2000;{{cite book|last1=Williams|first1=Jeff|title=Wholly Cow Too|date=2009|publisher=Summit Press|page=31}} that business remains profitable.{{cite news|author=Jim Douglas |url=http://www.wfaa.com/story/news/local/tarrant-county/2014/12/05/leather-success-has-tandy-happy-to-be-free-of-radioshack/19973229/ |title=The ironic tale of Tandy Leather and RadioShack |publisher=WFAA TV |date=December 5, 2014 |access-date=February 14, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150212071955/http://www.wfaa.com/story/news/local/tarrant-county/2014/12/05/leather-success-has-tandy-happy-to-be-free-of-radioshack/19973229/ |archive-date=February 12, 2015 }}
House brands Realistic and Optimus were discontinued. In 1999, the company agreed to carry RCA products in a five-year agreement for a "RCA Digital Entertainment Center" store-within-a-store.{{cite web|url=http://www.twice.com/news/news/rca-goes-retail-radioshack/23540 |title=RCA Goes Retail With RadioShack |publisher=Twice |access-date=February 12, 2015}}{{cite press release|url=http://www.prnewswire.com/news-releases/radioshack-and-rca-bringing-digital-technology-to-millions-with-exclusive-in-store-digital-entertainment-centers-73465737.html |title=RadioShack and RCA Bringing Digital Technology to Millions With Exclusive In-Store Digital... |publisher=PR newswire |access-date=February 12, 2015}} When the RCA contract ended, RadioShack introduced its own Presidian and Accurian brands, reviving the Optimus brand in 2005 for some low-end products. Enercell, a house brand for dry cell batteries, remained in use until approximately 2014.
Most of the RadioShack house brands had been dropped when Tandy divested its manufacturing facilities in the early 1990s; the original list included: Realistic (stereo, hi-fi and radio), Archer (antenna rotors and boosters), Micronta (test equipment), Tandy (computers), TRS-80 (proprietary computer), ScienceFair (kits), DuoFone (landline telephony), Concertmate (music synthesizer), Enercell (cells and batteries), Road Patrol (radar detectors, bicycle radios), Patrolman (Realistic radio scanner), Deskmate (software), KitchenMate, Stereo Shack, Supertape (recording tape), Mach One, Optimus (speakers and turntables), Flavoradio (pocket AM radios in various colours), Weatheradio, Portavision (small televisions) and Minimus (speakers).
In 2000, RadioShack was one of multiple backers of the CueCat barcode reader, which soon turned out to be a marketing failure. The company had invested US$35 million in the concept,{{cite news | last = Meyer | first = Katherine | title = The Best of the Worst: CueCat Falls Flat | newspaper = Wall Street Journal | date = May 3, 2006
| url = http://online.wsj.com/public/article/SB114424637699117715-OO16F7Ov3DMZcs1xpbu5ksPDTl0_20070503.html | access-date = November 10, 2011}} including printing the barcodes throughout its catalogs, and distributing CueCat devices to customers at no charge.{{cite news | author = Rosenberg, Scott| author-link = Scott Rosenberg (journalist) | title = CueCatastrophe: Next to the company that tried to wire Web users to bar-code scanners, money-burning dot-coms like Webvan don't look quite so bad. | newspaper = Salon.com | date = July 11, 2001 | url = http://www.salon.com/2001/07/11/cue_cat/ | access-date = November 10, 2011}}{{cite web|last1=Bois|first1=Jon|title=A eulogy for RadioShack|url=https://www.sbnation.com/2014/11/26/7281129/radioshack-eulogy-stories|website=SB Nation|access-date=May 18, 2017|date=December 2, 2015|url-access=subscription}}
The last annual RadioShack printed catalogs were distributed to the public in 2003.{{cite web|url=http://www.fastcompany.com/3042121/the-recommender/look-how-awesome-radioshack-was-in-the-1980s|title=Look How Awesome RadioShack Was In The 1980s|work=Fast Company|date=February 6, 2015}}
Until 2004, RadioShack routinely asked for the name and address of purchasers so they could be added to mailing lists. Name and mailing address were requested for special orders (RadioShack Unlimited parts and accessories, Direc2U items not stocked locally), returns, check payments, RadioShack Answers Plus credit card applications, service plan purchases and carrier activations of cellular telephones.
On December 20, 2005, RadioShack announced the sale of its newly built riverfront Fort Worth, Texas headquarters building to German-based KanAm Grund; the property was leased back to RadioShack for 20 years. In 2008, RadioShack assigned this lease to the Tarrant County College District (TCC), remaining in {{convert|400,000|sqft}} of the space as its headquarters.{{cite web |url=http://www.franchising.com/news/20080625_radioshack_corporation_agrees_to_assign_fort_worth.html |title=RadioShack Corporation Agrees to Assign Fort Worth Headquarters Lease From KanAm Grund to Tarrant County College District |date=June 25, 2008 |publisher=Franchising.com |access-date=February 12, 2015}}
In 2005, RadioShack parted with Verizon for a 10-year agreement with Cingular (later AT&T) and renegotiated its 11-year agreement with Sprint.{{cite web |url=http://www.geek.com/mobile/radioshack-to-dump-verizon-wireless-557712/ |title=RadioShack to dump Verizon Wireless {{pipe}} Mobile |publisher=Geek.com |first=Brian |last=Osborne |date=August 2, 2005 |access-date=February 14, 2015 |archive-date=February 14, 2015 |archive-url=https://web.archive.org/web/20150214034758/http://www.geek.com/mobile/radioshack-to-dump-verizon-wireless-557712/ |url-status=dead }} In July 2011, RadioShack ended its wireless partnership with T-Mobile, replacing it with the "Verizon Wireless Store" within a store.{{cite news |last=Skariachan |first=Dhanya |url=https://www.reuters.com/article/us-radioshack-idUSTRE76P2KX20110726 |title=RadioShack shuns T-Mobile for Verizon |work=Reuters |date=July 26, 2011 |access-date=February 12, 2015 |archive-date=February 12, 2015 |archive-url=https://web.archive.org/web/20150212024044/http://www.reuters.com/article/2011/07/26/us-radioshack-idUSTRE76P2KX20110726 |url-status=live }} 2005 under the leadership of Jim Hamilton, marked a banner year for wireless. RadioShack sold more mobile phones than Walmart, Circuit City and Best Buy combined.{{citation needed|date=July 2021}}
RadioShack had not made products under the Realistic name since the early 1990s. Support for many of Radio Shack's traditional product lines, including amateur radio, had ended by 2006.{{cite web|url=http://www.repeater-builder.com/radio-shack/radio-shack-intro-stuff.html|title=Radio Shack, Archer, and Realistic Introductory Information|work=repeater-builder.com}} A handful of small-town franchise dealers used their ability to carry non-RadioShack merchandise to bring in parts from outside sources; however, these stores were a minority.{{cite magazine|author=Jon Mooallem |url=https://www.wired.com/2010/04/ff_radioshack/all/ |title=The Lost Tribes of RadioShack: Tinkerers Search for New Spiritual Home |magazine=Wired |date=February 5, 2015 |access-date=February 12, 2015}}
== PointMobl and "The Shack" ==
In mid-December 2008, RadioShack opened three concept stores under the name "PointMobl" to sell wireless phones and service, netbooks, iPod and GPS navigation devices. The three Texas stores (Dallas, Highland Village and Allen) were furnished with white fixtures like those in the remodelled wireless departments of individual RadioShack stores, but there was no communicated relationship to RadioShack itself. Had the test proved successful, RadioShack could have moved to convert existing RadioShack locations into PointMobl stores in certain markets.{{cite web |url=http://www.dallasnews.com/sharedcontent/dws/bus/stories/DN-RadioShack_15bus.ART.State.Edition1.4c52532.html |title=RadioShack tests Point Mobl concept in Dallas area |date=February 15, 2009 |publisher=Dallasnews.com |access-date=May 24, 2010 |url-status=dead |archive-url=https://web.archive.org/web/20100816001054/http://www.dallasnews.com/sharedcontent/dws/bus/stories/DN-RadioShack_15bus.ART.State.Edition1.4c52532.html |archive-date=August 16, 2010}}
While some PointMobl products, such as car power adapters and phone cases, were carried as store-brand products in RadioShack stores, the stand-alone PointMobl stores were closed and the concept abandoned in March 2011.
In August 2009, RadioShack rebranded itself as "The Shack".{{cite web|last=Biggs|first=John|title=Radio Shack rebranding: Why? Why!?|url=https://techcrunch.com/2009/08/03/radio-shack-rebranding-why-why/ |work=TechCrunch |date=August 3, 2009 |access-date=February 4, 2014}} The campaign increased sales of mobile products, but at the expense of its core components business.{{cite web |last=Zmuda |first=Natalie |title=RadioShack's Journey to Bring Back a Forgotten Customer |url=http://adage.com/article/special-report-ana-annual-meeting/radioshack-s-journey-bring-back-a-forgotten-customer/230602/ |work=AdvertisingAge |date=October 23, 2011 |access-date=February 4, 2014}}
RadioShack aggressively promoted Dish Network subscriptions.{{cite news|url=https://www.nbcnews.com/id/wbna42361997 |title=RadioShack owner will continue gun giveaways |work=NBC News |date=March 31, 2011 |access-date=February 15, 2015}}{{cite news |url=http://www.kpax.com/news/radio-shack-owner-promises-shot-gun-for-satellite-service/ |title=Radio Shack owner promises shot gun for satellite service |publisher=KPAX-TV Missoula, Montana |date=April 4, 2011 |access-date=February 15, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150215111644/http://www.kpax.com/news/radio-shack-owner-promises-shot-gun-for-satellite-service/ |archive-date=February 15, 2015 }}
In November 2012, RadioShack introduced Amazon Locker parcel pick-up services at its stores, only to dump the program in September 2013.{{cite news |last=Townsend |first=Matt |url=http://seattletimes.com/html/businesstechnology/2021854688_amazonstaplesxml.html |title=Staples, RadioShack boot Amazon lockers from stores |newspaper=The Seattle Times |date=September 19, 2013 |access-date=February 12, 2015}} In 2013, the chain made token attempts to regain the do it yourself market, including a new "Do It Together" slogan.{{cite web|url=https://theweek.com/articles/462886/radioshack-save-itself-diy-makeover |title=Can RadioShack save itself with a DIY makeover? |publisher=Theweek.com |date=June 25, 2013 |access-date=March 18, 2016|last=Heller|first=Laura}}
Long-time staff observed a slow and gradual shift away from electronic parts and customer service and toward promotion of wireless sales and add-ons; the pressure to sell gradually increased, while the focus on training and product knowledge decreased. Morale was abysmal; longtime employees who were paid bonus and retirement in stock options saw the value of these instruments fade away.{{cite web |url=https://buffalonews.com/business/local/customers-former-workers-recall-the-faded-glories-of-radioshack/article_6547a69e-6d60-5bc8-a300-998730dd6db1.html |last=Christmann |first=Samantha |title=Customers, former workers recall the faded glories of RadioShack |work=The Buffalo News |date=February 6, 2015 |access-date=June 30, 2022}}
== Financial decline ==
In 1998, RadioShack called itself the single largest seller of consumer telecommunications products in the world; its stock reached its peak a year later.{{cite web |url=http://www.startribune.com/business/159235825.html?page=all |title=Schafer: Schulze's baby could turn into RadioShack |work=startribune.com |date=June 17, 2012 |access-date=March 18, 2016}}
InterTAN, a former Tandy subsidiary, sold the Tandy UK stores in 1999 and the Australian stores in 2001. InterTAN was sold (with its Canadian stores) to rival Circuit City in 2004. The RadioShack brand remained in use in the United States, but the 21st century proved a period of long decline for the chain, which was slow to respond to key trends— such as e-commerce, the entry of competitors like Best Buy and Amazon.com, and the growth of the maker movement.
By 2011, smartphone sales, rather than general electronics, accounted for half of the chain's revenue.{{cite web|url=http://www.tomshardware.co.uk/radio-shack-money-bankruptcy-holidays,news-49583.html|title=Radio Shack May Be Filing For Bankruptcy|author=Kevin Parrish|work=Tom's Hardware|date=January 15, 2015|access-date=March 18, 2016|archive-date=March 3, 2016|archive-url=https://web.archive.org/web/20160303205821/http://www.tomshardware.co.uk/radio-shack-money-bankruptcy-holidays,news-49583.html|url-status=dead}} The traditional RadioShack clientele of do-it-yourself tinkerers were increasingly sidelined. Electronic parts formerly stocked in stores were now mostly only available through on-line special order. Store employees concentrated efforts selling profitable mobile contracts, while other customers seeking assistance were neglected and left the stores in frustration.{{cite news |url=http://business.financialpost.com/2015/02/06/inside-radioshacks-slow-motion-collapse-why-the-fall-of-the-94-year-old-electronics-chain-didnt-have-to-be-this-way/ |title=Inside RadioShack's slow-motion collapse: Why the fall of the 94-year-old electronics chain didn't have to be this way - Financial Post |author1=Joshua Brustein |author2=Bloomberg News |date=February 6, 2015 |work=Financial Post}}
Demand for consumer electronics was also increasingly being weakened by consumers buying the items online.{{cite web |url=http://www.foxbusiness.com/technology/2012/06/07/radioshack-to-open-small-stores-in-china-joint-venture/|title=RadioShack to Open Small Stores in China Joint Venture |work=Fox Business |date=June 7, 2012 |access-date=March 18, 2016 |url-status=dead |archive-url=https://web.archive.org/web/20150924045258/http://www.foxbusiness.com/technology/2012/06/07/radioshack-to-open-small-stores-in-china-joint-venture/ |archive-date=September 24, 2015 }}
== 2004: "Fix 1500" initiative ==
In early 2004, RadioShack introduced Fix 1500, a sweeping program to "correct" inventory and profitability issues company-wide. The program put the 1,500 lowest-graded store managers, of over 5,000, on notice of the need to improve. Managers were graded not on tangible store and personnel data but on one-on-one interviews with district management.{{cite web|url=http://www.ceridian.com/www/content/10/12453/13839/lindseycase.pdf |title=Lindsey Case |date=September 22, 2006 |access-date=May 24, 2010}}
Typically, a 90-day period was given for the manager to improve (thus causing another manager to then be selected for Fix 1500). A total of 1,734 store managers were reassigned as sales associates or terminated in a 6-month period. Also, during this period, RadioShack cancelled the employee stock purchase plan. By the first quarter of 2005, the metrics of skill assessment used during Fix 1500 had already been discarded; the corporate officer who created the program had also resigned.{{citation needed|date=July 2015}}
In 2004, RadioShack was the target of a class-action lawsuit in which more than 3,300 current or former RadioShack managers alleged the company required them to work long hours without overtime pay.{{cite web|url=http://archive.fwweekly.com/content.asp?article=1531|title=FWWeekly: Metropolis: Suing to Silence?|work=fwweekly.com|date=January 28, 2004|access-date=March 18, 2016|last=Malone|first=Dan|archive-date=October 4, 2018|archive-url=https://web.archive.org/web/20181004043422/http://archive.fwweekly.com/content.asp?article=1531|url-status=dead}} In an attempt to suppress the news, the company launched a successful strategic lawsuit against public participation against Bradley D. Jones, the webmaster of RadioShackSucks.com and a former RadioShack dealer for 17 years.
== 2006: Management problems ==
On February 20, 2006, CEO David Edmondson admitted to "misstatements" on his curriculum vitae and resigned{{cite news|author=CBSNews |url=https://www.cbsnews.com/stories/2006/02/21/ap/business/mainD8FTEJ480.shtml |archive-url=https://web.archive.org/web/20071024122847/http://www.cbsnews.com/stories/2006/02/21/ap/business/mainD8FTEJ480.shtml |archive-date=October 24, 2007 |title=CBS News |access-date=July 8, 2013}} after the Fort Worth Star-Telegram debunked his claim to degrees in theology and psychology from Heartland Baptist Bible College.{{cite web |url=https://www.nbcnews.com/id/wbna11354888 |title=RadioShack CEO's resume is questioned - U.S. business- NBC News |work=NBC News |date=February 14, 2006 |access-date=May 24, 2010}}
Chief operating officer Claire Babrowski briefly took over as CEO and president. A 31-year veteran of McDonald's Corporation, where she had been vice president and Chief Restaurant Operations Officer, Babrowski had joined RadioShack several months prior. She left the company in August 2006, later becoming CEO and Executive Vice President of Toys "R" Us.{{Cite web|title = 50 Most Powerful Women - Claire Babrowski (40) - FORTUNE |url = https://money.cnn.com/galleries/2008/fortune/0809/gallery.women_mostpowerful.fortune/40.html|website = archive.fortune.com|access-date = October 19, 2015}}
RadioShack's board of directors appointed Julian C. Day as chairman and chief executive officer on July 7, 2006. Day had financial experience and had played a key role in revitalizing such companies as Safeway, Sears and Kmart but lacked any practical front-line sales experience needed to run a retail company. The Consumerist named him one of the "10 Crappiest CEOs" of 2009 (among consumer-facing companies, according to their own employees).{{cite web|last=Popken|first=Ben|url=http://consumerist.com/2009/10/27/top-10-crappiest-ceos-according-to-their-employees/ |title=Top 10 Crappiest CEOs (According To Their Employees) – Consumerist |publisher=Consumerist.com |date=October 27, 2009 |access-date=February 5, 2014}} He resigned in May 2011.{{cite magazine |url=https://www.forbes.com/sites/steveschaefer/2011/04/26/radioshacks-julian-day-another-superstar-ceo-doesnt-measure-up/ |title=Radioshack's Julian Day: Another Superstar CEO Doesn't Measure Up |magazine=Forbes |date=April 26, 2011 |access-date=February 5, 2014 |first=Steve |last=Schaefer}}{{cite magazine|url=https://www.forbes.com/sites/nathanvardi/2011/04/25/julian-days-radioshack-turnaround-has-been-a-failure/ |title=Julian Day's RadioShack Turnaround Has Been A Failure |magazine=Forbes |date=April 25, 2011 |access-date=February 5, 2014 |first=Nathan |last=Vardi}}{{cite news|last=Kosman |first=Josh |url=https://nypost.com/2010/06/01/radioshack-bids-in/ |title=Radioshack bids in |publisher=NYpost.com |date=June 1, 2010 |access-date=February 5, 2014}}
RadioShack Chief Financial Officer James Gooch succeeded Day as CEO in 2011, but "agreed to step down" 16 months later following a 73% plunge in the price of the stock.{{cite web|author1=Leslie Patton |author2=Chris Burritt |name-list-style=amp |publisher=Bloomberg |url=http://www.businessweek.com/news/2012-09-26/radioshack-ceo-gooch-steps-down-cfo-lively-named-interim |title=RadioShack CEO Gooch Leaves as Lively Named Interim Chief |date=September 26, 2012 |access-date=August 3, 2014 |url-status=dead |archive-url=https://web.archive.org/web/20140808044613/http://www.businessweek.com/news/2012-09-26/radioshack-ceo-gooch-steps-down-cfo-lively-named-interim |archive-date=August 8, 2014 }} On February 11, 2013, RadioShack Corp. hired Joseph C. Magnacca from Walgreens, because he had experience in retail.{{cite news|last=Burritt |first=Chris |url=https://www.bloomberg.com/news/2013-02-07/radioshack-names-walgreen-s-magnacca-as-ceo-after-falling-sales.html |title=RadioShack's New CEO Faces Challenge as Profit Slides |publisher=Bloomberg |date=February 7, 2013 |access-date=February 5, 2014}}
== 2006: Corporate layoffs and new strategy ==
In the spring of 2006, RadioShack announced a strategy to increase average unit volume, lower overhead costs, and grow profitable square footage. In early to mid-2006, RadioShack closed nearly 500 locations. It was determined that some stores were too close to each other, causing them to compete with one another for the same customers. Most of the stores closed in 2006 brought in less than US$350,000 in revenue each year.
Despite these actions, stock prices plummeted within what was otherwise a booming market. On August 10, 2006, RadioShack announced plans to eliminate a fifth of its company headquarters workforce to reduce overhead expense, improving its long-term competitive position while supporting a significantly smaller number of stores.{{cite web|url=https://www.motherjones.com/mojo/2006/09/radioshack-streamlines-layoff-process-emails-pinkslips-400-workers|title=RadioShack Streamlines the Layoff Process, Emails Pinkslips to 400 Workers|first= Elizabeth|last=Gettelman|work=Mother Jones|date=September 7, 2006|access-date=March 18, 2016}} On Tuesday, August 29, the affected workers received an e-mail: "The work force reduction notification is currently in progress. Unfortunately your position is one that has been eliminated."{{cite news|url=https://money.cnn.com/galleries/2007/biz2/0701/gallery.101dumbest_2007/27.html|title=101 Dumbest Moments in Business |publisher=CNN|date=2007|access-date=May 18, 2017 |first1=Adam |last1=Horowitz |first2=David |last2=Jacobson |first3=Tom |last3=McNichol |first4=Owen |last4=Thomas}}{{cite web|url=https://www.chron.com/business/article/You-ve-got-mail-about-your-layoff-1902185.php |title=You've got mail, about your layoff |work=Houston Chronicle|via=Associated Press|date=August 31, 2006|access-date=March 18, 2016}} Four hundred and three workers were given 30 minutes to collect their personal effects, say their goodbyes to co-workers and then attend a meeting with their senior supervisors. Instead of issuing severance payments immediately, the company withheld them to ensure that company-issued BlackBerrys, laptops and cellphones were returned.{{cite news |url=https://www.forbes.com/2006/08/31/leadership-radio-shack-management-cx_tw_0831layoffs.html|title=You've Got Mail: You're Fired|author=Tara Weiss|date=August 31, 2006|access-date=March 18, 2016|work=Forbes}} This move drew immediate widespread public criticism for its lack of sensitivity.{{cite web | url=https://www.courant.com/2006/09/01/re-radioshack-layoffs-this-1s-4u/ | title=Re: Radioshack Layoffs -- This 1's 4u :-( | work=Hartford Courant |date=September 1, 2006 |access-date=July 26, 2015 |author=Podsada, Janice |quote=Hey, at least it saved on trees and managers' time. On Tuesday, RadioShack laid off 403 employees, from vice presidents to rank-and-file workers, by sending them notices through e-mail. "It's the first e-mail layoff I've heard of," said Mary Willoughby, an instructor in the human resource development program at St. John Fisher College in Rochester, N.Y., and an active member of the Society of Human Resource Management. "It's demoralizing. We still have to have that human touch," Willoughby said. As she and many others see it, there's no substitute for personal contact -- even when it comes to giving employees the ax. RadioShack's decision to send layoff notices by e-mail has touched off debate over whether the company's method was ethical and innovative, or cowardly and callous, or perhaps just another milestone in the advent of the electronic office. Many experts were unmoved by the fact that it was a large-scale layoff, and wondered whether the move would spark a trend.}}
== 2009: Customer relations problems ==
RadioShack and the Better Business Bureau of Fort Worth, Texas, met on April 23, 2009, to discuss unanswered and unresolved complaints. The company implemented a plan of action to address existing and future customer service issues. Stores were directed to post a sign with the district manager's name, the question "How Are We Doing?" and a direct toll-free number to the individual district office for their area. RadioShackHelp.com was created as another portal for customers to resolve their issues through the Internet. {{As of|2012}}, the BBB had upgraded RadioShack from an "F" to an "A" rating; this was changed to "no rating" after the 2015 bankruptcy filing.{{cite web |url=http://www.bbb.org/fort-worth/business-reviews/electronic-equipment-and-suppliers-service-and-repair/radio-shack-corporation-in-fort-worth-tx-52110001#reasonrating|title=BBB at Fort Worth: BBB Reliability Report |publisher=FortWorth.BBB.org |access-date=May 24, 2010}}
According to an experience ratings report published by Temkin Group, an independent research firm, RadioShack was ranked as the retailer with the worst overall customer experience; it maintained this position for six consecutive years.{{cite news |url=http://www.chainstoreage.com/article/retailer-best-customer-experience-is |title=The retailer with the best customer experience is... |access-date=May 25, 2016 |date=May 24, 2016 |first=Dan |last=Berthiaume |website=Chainstoreage.com |quote="...RadioShack was at the bottom of the list for the sixth straight year, earning a rating of 55% and an overall rank of 199th." |archive-date=May 26, 2016 |archive-url=https://web.archive.org/web/20160526000303/http://www.chainstoreage.com/article/retailer-best-customer-experience-is |url-status=dead }}
== 2012–2014: Financial distress ==
From 2000 to 2011, RadioShack spent US$2.6 billion repurchasing its own stock in an attempt to prop up a share price which fell from US$24.33 to US$2.53; the buyback and the stock dividend were suspended in 2012 to conserve cash and reduce debt as the company continued to lose money.{{cite web |url=http://www.minyanville.com/trading-and-investing/earnings/articles/buyback-stock-repurchase-travelzoo-radioshack-cbs/7/27/2012/id/42783 |title=Stock Buyback Blitz |author=Bristol Voss |work=Minyanville |date=July 27, 2012 |access-date=March 18, 2016 |archive-date=March 4, 2016 |archive-url=https://web.archive.org/web/20160304092642/http://www.minyanville.com/trading-and-investing/earnings/articles/buyback-stock-repurchase-travelzoo-radioshack-cbs/7/27/2012/id/42783 |url-status=dead }} Company stock had declined 81 percent since 2010 and was trading well below book value. The stock reached an all-time low on April 14, 2012.{{cite news|last=Peterson |first=Kim |url=http://money.msn.com/stock-broker-guided/latest.aspx?post=7b27e36b-9688-403d-a8f4-159805f06b93 |title=Why does RadioShack still exist? The chain says that sales are falling and that profit this year will be lower than in 2011 |work=MSN Money |date=April 24, 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120426224021/http://money.msn.com/stock-broker-guided/latest.aspx?post=7b27e36b-9688-403d-a8f4-159805f06b93 |archive-date=April 26, 2012 }}{{cite news|last1=Talley |first1=Karen |last2=Tadena |first2=Nathalie |url=http://online.wsj.com/article/BT-CO-20120424-713631.html |title=3rd UPDATE: RadioShack Posts 1Q Loss As Product Demand Wanes |work=The Wall Street Journal |date=April 24, 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120427095859/http://online.wsj.com/article/BT-CO-20120424-713631.html |archive-date=April 27, 2012 }} In September 2012, RadioShack's head office laid off 130 workers after a US$21 million quarterly loss.{{cite news |url=http://www.bizjournals.com/dallas/news/2012/09/06/radioshack-starts-layoffs-at-fort.html |title=Radio Shack layoffs in Fort Worth - Dallas Business Journal |date=September 6, 2012 |work=Dallas Business Journal |first=Steven R.|last=Thompson|access-date=April 26, 2016}} Layoffs continued in August 2013; headquarters employment dropped from more than 2,000 before the 2006 layoffs to slightly fewer than 1,000 in late 2013.{{cite web|url=http://blogs.star-telegram.com/dfwjobs/2013/08/more-layoffs-at-radioshack.html|title=More layoffs at RadioShack? - Tarrant Business|work=star-telegram.com|date=August 15, 2013|access-date=April 26, 2016 |first1=Barry |last1=Shlachter |first2=Steve |last2=Kaskovich |url-status=dead |archive-url=https://web.archive.org/web/20131008205536/http://blogs.star-telegram.com/dfwjobs/2013/08/more-layoffs-at-radioshack.html |archive-date=October 8, 2013 }} At the end of 2013, the chain owned 4,297 US stores.{{cite news |url=https://www.bloomberg.com/research/stocks/snapshot/snapshot_article.asp?ticker=RSHC |archive-url=https://archive.today/20150210064318/http://www.bloomberg.com/research/stocks/snapshot/snapshot_article.asp?ticker=RSHC |url-status=dead |archive-date=February 10, 2015 |title=RADIOSHACK CORP (RSHC:OTC US): Company Description |work=Businessweek }}
The company had received a {{currency|250 million}} cash infusion in 2013 from Salus Capital Partners and Cerberus Capital Management. This debt carried onerous conditions, preventing RadioShack from gaining control over costs by limiting store closures to 200 per year{{cite web |url=http://www.inquisitr.com/1821718/radioshack-the-case-of-poor-financial-and-entrepreneurial-planning/|title=RadioShack: The Case Of Poor Financial And Entrepreneurial Planning|work=The Inquisitr News|author=Alap Naik Desai|date=February 7, 2015|access-date=April 26, 2016}} and restricting the company's refinancing efforts. With too many underperforming stores remaining open, the chain continued to spiral toward bankruptcy.{{cite web |url=http://www.fool.com/investing/general/2015/01/20/was-bringing-radioshack-to-the-brink-this-hedge-fu.aspx|title=Was RadioShack Corp.'s Bankruptcy This Hedge Fund's End Game All Along?|work=fool.com|last=Duprey|first=Rich|date=January 20, 2015|access-date=April 26, 2016}}
On March 4, 2014, the company announced a net trading loss for 2013 of US$400.2 million, well above the 2012 loss of US$139.4 million,{{cite news |title=RadioShack Reports Financial Results for Fourth Quarter 2013|url=http://www.prnewswire.com/news-releases/radioshack-reports-financial-results-for-fourth-quarter-2013-248343511.html |work=PR Newswire|access-date=April 26, 2016|date=March 4, 2014}} and proposed a restructuring{{cite magazine |url=https://www.forbes.com/sites/samanthasharf/2014/05/09/radioshack-reneges-on-1100-store-closure-plan/|title=RadioShack Reneges On 1,100 Store Closure Plan, Stock Drops |access-date=April 26, 2016|date=March 9, 2014|magazine=Forbes|first=Samantha|last=Sharf}} which would close 1,100 lower-performing stores,{{cite web|url=http://www.ibtimes.com/radioshack-close-1100-stores-layoffs-not-immediately-announced-1559327|title=RadioShack To Close 1,100 Stores; Layoffs Not Immediately Announced|date=March 4, 2014|work=International Business Times}} almost 20% of its US locations.{{cite news |last=Isidore |first=Chris |url=https://money.cnn.com/2014/03/04/news/companies/radioshack-store-closings/index.html?hpt=hp_t2 |title=Radio Shack closing 1,100 stores - Mar. 4, 2014 |work=CNN |date=March 4, 2014 |access-date=March 4, 2014}} On May 9, 2014, the company reported that creditors had prevented it from carrying out those closures,{{cite news|last1=Turner|first1=Nick |title=RadioShack to Close Fewer Stores as It Contends With Lenders |url=https://www.bloomberg.com/news/2014-05-08/radioshack-is-closing-fewer-stores-as-it-negotiates-with-lenders.html |access-date=June 1, 2014 |date=May 9, 2014 |work=Bloomberg}} with one lender presuming fewer stores would mean fewer assets to secure the loan and reduce any recovery it would get in a bankruptcy reorganization.{{cite news|url=https://www.bloomberg.com/news/articles/2015-02-08/behind-radioshack-s-collapse-is-a-tiny-lender-that-found-trouble|title=Behind RadioShack's Collapse Is a Tiny Distressed Lender|author=Jodi Xu Klein|work=Bloomberg.com|date=February 8, 2015}}
On June 10, 2014, RadioShack said that it had enough cash to last 12 months, but that lasting a year depended on sales growing.{{cite news |last1=Fitzgerald |first1=Drew |last2=Michael |first2=Calia|title=RadioShack Draws on Credit Line as Losses Deepen |url=http://online.wsj.com/articles/radioshacks-loss-widens-as-turnaround-effort-continues-1402399401 |website=The Wall Street Journal |access-date=June 10, 2014 |date=June 10, 2014 |url-access=subscription}} Sales had fallen for nine straight quarters,{{cite news |last1=Lopez |first1=Ricardo |title=RadioShack's quarterly loss more than triples to $98.3 million |url=https://www.latimes.com/business/la-fi-radioshack-earnings-20140610-story.html|website=Los Angeles Times |access-date=June 10, 2014 |format=June 10, 2014 |date=June 10, 2014}} and by year's end the company realized a loss in "each of its 10 latest quarters".{{cite news |author=Coleman-Lochner, Lauren |date=December 6, 2014 |title=RadioShack to End 401(K) Plan Matching to Reduce Costs |agency=Bloomberg News |url=https://www.bloomberg.com/news/2014-12-04/radioshack-to-end-401-k-retirement-matching-plans-to-cut-costs.html }} On June 20, 2014, RadioShack's stock price fell below US$1,{{cite web |last1=Wasserman |first1=Todd |title=RadioShack Trading for Under $1, Could Be Delisted From NYSEn|url=http://mashable.com/2014/06/20/radio-shack-1-dollar-nyse/ |website=Mashable |access-date=June 20, 2014 |date=June 20, 2014}} triggering a July 25 warning from the New York Stock Exchange that it could be delisted for failure to maintain a stock price above $1.{{cite web|last1=Halkias|first1=Maria|title=RadioShack has received notice that it may be delisted from the NYSE |url=http://bizbeatblog.dallasnews.com/2014/07/radioshack-has-received-notice-that-it-may-be-delisted-from-the-nyse.html/ |website=The Dallas Morning News |access-date=July 25, 2014 |date=July 25, 2014 |url-status=dead |archive-url=https://web.archive.org/web/20140727223108/http://bizbeatblog.dallasnews.com/2014/07/radioshack-has-received-notice-that-it-may-be-delisted-from-the-nyse.html/ |archive-date=July 27, 2014 }} On July 28, 2014, Mergermarket's Debtwire reported RadioShack was discussing Chapter 11 bankruptcy protection as an option.{{cite web|title=RadioShack cost of pre-holiday inventory poses potential restructuring trigger |url=http://www.debtwire.com/info/2014/07/28/radioshack-cost-pre-holiday-inventory-poses-potential-restructuring-trigger/ |first=Reshmi |last=Basu |website=Debtwire |publisher=Mergermarket |access-date=August 15, 2014 |date=July 28, 2014 |url-status=dead |archive-url=https://web.archive.org/web/20140811112205/http://www.debtwire.com/info/2014/07/28/radioshack-cost-pre-holiday-inventory-poses-potential-restructuring-trigger/ |archive-date=August 11, 2014 }}
On September 11, 2014, RadioShack admitted it might have to file for bankruptcy, and would be unable to finance its operations "beyond the very near term" unless the company was sold, restructured, or received a major cash infusion.{{cite news |last1=Alden |first1=William |title=RadioShack Says It May Have to File for Bankruptcy |url=https://dealbook.nytimes.com/2014/09/11/radioshack-says-it-may-have-to-file-for-bankruptcy/ |website=The New York Times |access-date=September 11, 2014|date=September 11, 2014}} On September 15, 2014, RadioShack replaced its CFO with a bankruptcy specialist.{{cite web |last1=Jones |first1=Michelle |title=RadioShack Corporation Hires Bankruptcy Expert As CFO|url=http://www.valuewalk.com/2014/09/radioshack-hires-bankruptcy-expert-cfo/ |website=ValueWalk |access-date=September 15, 2014|date=September 15, 2014}} On October 3, RadioShack announced an out-of-court restructuring, a 4:1 dilution of shares, and a rights issue priced at 40 cents a share.{{cite web|url=http://ir.radioshackcorporation.com/phoenix.zhtml?c=84525&p=irol-newsArticle&ID=1974083 |archive-url=https://archive.today/20141005212457/http://ir.radioshackcorporation.com/phoenix.zhtml?c=84525&p=irol-newsArticle&ID=1974083 |url-status=dead |archive-date=October 5, 2014 |title=Radioshack Announces Milestone In Recapitalization Process|website=RadioShack |access-date=October 5, 2014 |date=October 3, 2014}}{{cite web|last1=Priore|first1=Matt|title=RadioShack: 'Lifeline' Just A Risk Free Cash Advance On 4:1 Dilution For Shareholders |url=http://seekingalpha.com/article/2540035-radioshack-lifeline-just-a-risk-free-cash-advance-on-4-1-dilution-for-shareholders|website=Seeking Alpha|access-date=October 5, 2014|date=October 4, 2014}} RadioShack's stock ({{New York Stock Exchange|RSH}}) was halted on the New York exchange for the entire day.{{cite web|title=RadioShack Historical Prices: October 3, 2014 |url=https://finance.yahoo.com/q/hp?s=RSH&a=09&b=3&c=2014&d=09&e=3&f=2014 |website=Yahoo! Finance |access-date=October 5, 2014 |url-status=dead |archive-url=https://web.archive.org/web/20141006133815/https://finance.yahoo.com/q/hp?s=RSH&a=09&b=3&c=2014&d=09&e=3&f=2014 |archive-date=October 6, 2014 }}{{cite news|author1=Drew Fitzgerald|author2=Matt Jarzemsky|title=RadioShack Lifeline Only Buys a Little Time|url=http://online.wsj.com/articles/radioshack-lifeline-only-buys-a-little-time-1412548853|work=The Wall Street Journal|date=October 5, 2014|url-access=subscription}} Despite the debt restructuring proposal, in December Salus and Cerberus informed RadioShack that it was in default of the {{currency|250 million}} they had provided as a cash infusion in 2013.
At the end of October 2014, quarterly figures indicated RadioShack was losing US$1.1 million per day.{{cite web |url=https://www.sec.gov/Archives/edgar/data/96289/000009628914000045/c289-20141101x10q.htm |title=RSH_20141101_Q3: Radio Shack third quarter 1994 earnings filing |publisher=US Securities and Exchange Commission |access-date=February 23, 2015}} A November 2014 attempt to keep the stores open from 8AM to midnight on Thanksgiving Day drew a sharp backlash from employees and a few resignations;{{cite news |url=https://www.huffingtonpost.com/2014/11/12/radioshack-thanksgiving-hours-pushback_n_6147614.html |title=RadioShack Reverses Plan To Stay Open All Day On Thanksgiving |work=The Huffington Post |date=November 12, 2014}}{{cite news|url=https://www.bloomberg.com/news/articles/2014-11-12/radioshack-backtracks-on-thanksgiving-hours-after-worker-outcry|title=RadioShack Backtracks on Thanksgiving Hours After Worker Outcry|author=Lauren Coleman-Lochner |work=Bloomberg.com |date=November 12, 2014}} comparable store sales for the three days (Thursday-Saturday) were 1% lower than the prior year, when the stores were open for two of the days.{{cite web|url=http://seekingalpha.com/article/2760955-last-one-out-of-radioshack-turn-out-the-lights-if-the-power-company-hasnt-done-so-already |title=Last One Out Of RadioShack Turn Out The Lights (If The Power Company Hasn't Done So Already) - RadioShack Corporation (NYSE:RSH) |work=Seeking Alpha |date=December 16, 2014 |access-date=February 12, 2015}} The company's problems maintaining inventories of big-ticket items, such as Apple's iPhone 6, further cut into sales.{{cite web|url=http://seekingalpha.com/article/2723815-iphone-shortages-at-radioshack-sales-down-30-percent-at-one-store |title=iPhone Shortages At RadioShack, Sales Down 30% At One Store - RadioShack Corporation (NYSE:RSH) |work=Seeking Alpha |date=December 2, 2014 |access-date=February 14, 2015 |last1=Nolen |first1=Mitch }}
By December 2014, RadioShack was being sued by former employees for having encouraged them to invest 401(k) retirement savings in company stock, alleging a breach of fiduciary duties to "prudently" handle the retirement fund which caused "devastating losses" in the retirement plans as the stock dropped from US$13 in 2011 to 38 cents at the end of 2014.{{cite news|url=http://www.star-telegram.com/news/business/biz-columns-blogs/shlachter-baker-kaskovich/article5043555.html |title=Lawsuits allege RadioShack acted imprudently on 401(k) plans |work=star-telegram |date=December 27, 2014 |access-date=April 26, 2016}} These claims were dismissed by the Fifth U.S. Circuit Court of Appeals in 2018.{{cite news |url=https://www.reuters.com/article/radioshack-decision/radioshack-officials-not-liable-for-employees-401-stock-losses-idUSL2N1PX2GS |title=RadioShack officials not liable for employees' 401(k) stock losses |last=Stempel |first=Jonathan |work=Reuters |date=February 7, 2018 |access-date=February 12, 2018}}{{registration required}}{{cite news |url=https://www.law360.com/articles/1010200/workers-paid-fair-price-for-radioshack-stock-5th-circ-says |title=Workers Paid Fair Price For RadioShack Stock, 5th Circ. Says |first=Braden |last=Campbell |publisher=Law360 |date=February 7, 2018 |access-date=February 12, 2018}}{{registration required}}
== 2015 bankruptcy ==
class="toccolours" style="float: right; margin-left: 1em; margin-right: 2em; font-size: 90%; background:#e8f5f4; color:black; width:30em; max-width: 40%;" cellspacing="5"
|style="text-align: left"|"RadioShack died years ago; we're only now holding the funeral. Good active managers have avoided RadioShack for a long time." |
style="text-align: left;"| - Gershon Distenfeld, Director, AllianceBernstein{{cite news|url=https://www.cbsnews.com/news/is-radioshacks-bankruptcy-imminent/|title=Is RadioShack's bankruptcy imminent?|date=February 5, 2015|website=cbsnews.com|first=Aimee|last=Picchi}} |
On January 15, 2015, The Wall Street Journal reported RadioShack had delayed rent payments to some commercial landlords{{cite news |url=https://www.wsj.com/articles/radioshack-delays-some-rent-payments-amid-restructuring-1421365058|title=RadioShack Delays Some Rent Payments Amid Restructuring |first1=Matt|last1=Jarzemsky |first2=Drew|last2=FitzGerald|date=January 15, 2015|work=WSJ|url-access=subscription}} and was preparing a bankruptcy filing that could come as early as February. Officials of the company declined to comment on the report.{{cite news |last1=Lobosco |first1=Katie |title=RadioShack may be near bankruptcy|url=https://money.cnn.com/2015/01/14/news/companies/radioshack-bankruptcy/index.html |access-date=January 15, 2015 |work=CNN |date=January 15, 2015}} A separate report by Bloomberg claimed the company might sell leases to as many as half its stores to Sprint.{{cite news |title=RadioShack in talks to sell leases on stores to Sprint: Bloomberg |url=https://www.reuters.com/article/us-radioshack-divestiture-sprint-corp-idUSKBN0KO2QV20150115 |access-date=January 15, 2015 |work=Reuters |date=January 15, 2015 |archive-date=January 16, 2015 |archive-url=https://web.archive.org/web/20150116074258/http://www.reuters.com/article/2015/01/15/us-radioshack-divestiture-sprint-corp-idUSKBN0KO2QV20150115 |url-status=live }}
On February 2, 2015, the company was delisted from the New York Stock Exchange after its average market capitalization remained below US$50 million for longer than thirty consecutive days.{{cite news |url=https://www.reuters.com/article/us-radioshack-delisting-idUSKBN0KV2U820150122 |title=RadioShack gets another delisting warning from the NYSE |access-date=January 28, 2015 |work=Reuters |date=January 22, 2015 |archive-date=January 27, 2015 |archive-url=https://web.archive.org/web/20150127201026/http://www.reuters.com/article/2015/01/22/us-radioshack-delisting-idUSKBN0KV2U820150122 |url-status=live }}{{cite press release|url=http://ir.theice.com/press-and-publications/press-releases/nyse-regulation/2015/suspensionrelease_rsh_020215.aspx|title=NYSE TO SUSPEND TRADING IMMEDIATELY IN RADIOSHACK CORPORATION AND COMMENCE DELISTING PROCEEDINGS|date=February 2, 2015|access-date=February 3, 2015 |archive-url=https://web.archive.org/web/20150203060427/http://ir.theice.com/press-and-publications/press-releases/nyse-regulation/2015/suspensionrelease_rsh_020215.aspx |archive-date= February 3, 2015 |url-status=dead}} That same day, Bloomberg News reported RadioShack was in talks to sell half of its stores to Sprint and close the rest, which would effectively render RadioShack no longer a stand-alone retailer.{{cite news |url=https://www.bloomberg.com/news/articles/2015-02-02/radioshack-is-said-to-discuss-liquidation-as-part-of-sprint-deal|title=RadioShack in Talks to Sell Half Its Stores to Sprint, Shutter the Rest|access-date=February 2, 2015|work=Bloomberg|date=February 2, 2015|first=Lauren|last=Coleman-Lochner}} Amazon.com and Brookstone were also mentioned to be potential bidders, the former having at the time been wanting to establish a brick and mortar presence.{{cite news |url=https://www.bloomberg.com/news/articles/2015-02-03/amazon-said-to-mull-buying-radioshack-stores-in-retail-expansion |work=Bloomberg |date=February 2, 2015|access-date=February 3, 2015|title=Amazon in Talks to Buy Some of RadioShack's Stores|first=Katie|last=Benner}} On February 3, RadioShack defaulted on its loan from Salus Capital.{{cite news|work=CNN Money|title=RadioShack defaults on financial lifeline |url=https://money.cnn.com/2015/02/02/news/companies/radioshack-trading-suspended/index.html|date=February 3, 2015|access-date=February 3, 2015 |first1=Katie |last1=Lobosco |first2=Chris |last2=Isidore}}
File:Radio Shack in West Miami, Florida.jpg
On the days following these reports, some employees were instructed to reduce prices and transfer inventory out of stores designated for closing to those that would remain open during the presumed upcoming bankruptcy proceedings,{{cite web|url=http://www.pcworld.com/article/2878815/radioshack-is-gearing-up-to-sell-or-shutter-its-stores-report-says.html|title=RadioShack is gearing up to sell or shutter its stores, report says|work=PC World|date=February 2, 2015 |access-date=February 3, 2015}} while the rest remained "in the dark" as to the company's future.{{cite news |url=https://money.cnn.com/2015/02/03/news/companies/radioshack-employees/index.html |title=RadioShack employees wonder: What's next?|work=CNN Money|date=February 3, 2015|access-date=February 3, 2015|first1=Chris|last1=Isidore|first2=Gregory |last2=Wallace}} Many stores had already closed abruptly on Sunday, February 1, 2015, the first day of the company's fiscal year, with employees only given a few hours advance notice. Some had been open with a skeleton crew, little inventory and reduced hours only because the Salus Capital loan terms limited the chain to 200 store closures a year.{{cite news |url=https://money.cnn.com/2015/02/05/news/companies/radioshack-stores/index.html|title=RadioShack employees: Tales from the walking dead|work=CNN Money|date=February 5, 2015 |access-date=February 5, 2015|first=Chris|last=Isidore}} A creditor group alleged the chain had remained on life support instead of shutting down earlier and cutting its losses merely so that Standard General could avoid paying on credit default swaps which expired on December 20, 2014.{{cite news |title=Creditors say RadioShack's bankruptcy doesn't add up|url=https://www.cbsnews.com/news/creditors-say-radioshacks-bankruptcy-doesnt-add-up/ |first=Kim|last=Peterson|work=CBS MoneyWatch|date=February 19, 2015|access-date=February 24, 2015}}
On February 5, 2015, RadioShack announced that it had filed for Chapter 11 bankruptcy protection.{{cite news |url=https://www.wsj.com/articles/strategic-confusion-put-radioshack-at-the-mercy-of-lenders-1423164004|title=Strategic Confusion Put RadioShack at Mercy of Lenders |date=February 6, 2015|newspaper=Wall Street Journal|last2=Jarzemsky|first2=Matt|access-date=February 6, 2015|first1=Drew|last1=FitzGerald|url-access=subscription}} Using bankruptcy to end contractual restrictions that had required it keep unprofitable stores open, the company immediately published a list of 1784 stores which it intended to close,{{cite web|url=http://radioshackcorporation.com/pdfs/RS-Store-Closure-List_020415.pdf |title=Radio Shack store closure list |publisher=RadioShack Corporation |date=February 4, 2015 |access-date=February 10, 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150209025023/http://radioshackcorporation.com/pdfs/RS-Store-Closure-List_020415.pdf |archive-date=February 9, 2015 }}{{cite web |title=Chapter 11 Petition |url=http://www.pacermonitor.com/view/AKIMBNI/RadioShack_Corporation__debke-15-10197__0001.0.pdf |publisher=PacerMonitor}} a process it wished to complete by the month's end to avoid an estimated US$7 million in March rent.{{cite web |url=https://www.stltoday.com/business/local/radioshack-plans-to-close-more-than-stores-by-end-of/article_d0b262c6-ba0e-52a2-986b-de93552398cc.html |title=RadioShack plans to close more than 1,700 stores by end of month|publisher=Lee Enterprises|work=stltoday.com|date=February 7, 2015 }}
Customers had initially been given until March 6, 2015, to return merchandise or redeem unused gift cards.{{cite news |url=http://www.hartfordbusiness.com/article/20150211/NEWS01/150219980/ct-prods-radioshack-patrons-to-act |title=CT prods RadioShack patrons to act |date=February 11, 2015 |newspaper=Hartford Business Journal |author=}}{{cite news |url=http://www.businessinsider.com/radioshack-gift-cards-deadline-2015-3 |title=You have less than a week to use your RadioShack gift card |website=Business Insider |first=Hayley |last=Peterson |date=March 2, 2015}}{{cite news |url=http://www.kiplinger.com/article/spending/T050-C011-S001-what-to-buy-at-radioshack-while-supplies-last.html |title=What to Buy at RadioShack While Supplies Last |magazine=Kiplinger |first=Cameron |last=Huddleston |date=March 2, 2015}} However, after legal pressure from the Attorneys General of several states,{{cite news |url=http://abc27.com/2015/10/02/judge-oks-refunds-for-radioshack-gift-cards/ |date=October 2, 2015 |access-date=October 14, 2015 |title=Judge OKs refunds for RadioShack gift cards |archive-date=October 13, 2015 |archive-url=https://web.archive.org/web/20151013092431/http://abc27.com/2015/10/02/judge-oks-refunds-for-radioshack-gift-cards/ |url-status=dead }}{{cite news |url=http://www.readingeagle.com/money/article/radioshack-gift-card-refunds-available/ |date=October 12, 2015|access-date=October 14, 2015 |title=RadioShack gift card refunds available |archive-url=https://web.archive.org/web/20151126071738/http://www.readingeagle.com/money/article/radioshack-gift-card-refunds-available|archive-date=November 26, 2015 |url-status=dead}} RadioShack ultimately agreed to reimburse customers for the value of unused gift cards.{{cite news |url=https://money.cnn.com/2015/08/26/news/companies/radio-shack-gift-card-bankruptcy-debt/index.html|title=RadioShack agrees to refund gift cards for cash |date=August 27, 2015|access-date=October 14, 2015}}
RadioShack was criticized for including the personally identifying information of 67 million of its customers as part of its assets for sale during the proceedings, despite its long-standing policy and a promise to customers that data would never be sold for any reason at any time.{{cite news |url=http://www.natlawreview.com/article/legacy-radioshack-bankruptcy-and-importance-pii |work=National Law Review|title=The Legacy of the RadioShack Bankruptcy and the Importance of PII |date=October 4, 2015 |access-date=October 14, 2015}} The Federal Trade Commission and the Attorneys General of 38 states fought against this proposal. The sale of this data was ultimately approved, albeit greatly reduced from what was initially proposed.
=General Wireless Operations, Inc.=
On March 31, 2015, the bankruptcy court approved a US$160 million offer by the Standard General affiliate General Wireless Operations, Inc., gaining ownership of 1,743 RadioShack locations. As part of the deal, the company entered into a partnership with Sprint, in which the company would become a co-tenant at 1,435 RadioShack locations and establish store within a store areas devoted to selling its wireless brands, including Sprint, Boost Mobile and Virgin Mobile. The stores would collect commissions on the sale of Sprint products, and Sprint would assist in promotion. Sprint stated that this arrangement would increase the company's retail footprint by more than double; the company previously had around 1,100 company-owned retail outlets, in comparison to the over 2,000 run by AT&T Mobility. Although they would be treated as a co-tenant, a mockup showed Sprint branding being more prominent in promotion and exterior signage than that of RadioShack. The acquisition did not include rights to RadioShack's intellectual property (such as its trademarks), rights to RadioShack's franchised locations, and customer records, which were to be sold separately.{{cite web |date=April 9, 2015 |title=Sprint opens stores within 1,435 RadioShack locations |url=http://www.computerworld.com/article/2908130/sprint-opens-stores-within-1435-radioshack-locations.html |access-date=April 10, 2015 |website=Computerworld}}{{cite news |last=Brickley |first=Peg |date=March 31, 2015 |title=RadioShack Rescue Deal Clears Bankruptcy Court |url=https://www.wsj.com/articles/radioshack-rescue-deal-clears-bankruptcy-court-1427830159 |url-access=subscription |access-date=April 10, 2015 |website=Wall Street Journal}}{{cite web |title=Sprint set to open 1,435 co-branded locations with RadioShack tomorrow |url=http://www.fiercewireless.com/story/sprint-set-open-1435-co-branded-locations-radioshack-tomorrow/2015-04-09 |access-date=April 10, 2015 |website=FierceWireless}}{{cite news |last=Brickley |first=Peg |date=April 13, 2015 |title=RadioShack Trademarks, Customers, Dealer Network Up for Sale |url=https://www.wsj.com/articles/radioshack-trademarks-customers-dealer-network-up-for-sale-1428944335 |url-access=subscription |access-date=April 13, 2015 |work=The Wall Street Journal}}
Re-branded stores soft launched on April 10, 2015, with a preliminary conversion of the stores' existing wireless departments to exclusively house Sprint brands, with all stores eventually to be renovated in waves to allocate larger spaces for Sprint.{{cite web |title=Sprint RadioShack re-branding concept |url=https://consumermediallc.files.wordpress.com/2015/03/sprintstoreplan.pdf |publisher=Sprint Corporation |access-date=April 10, 2015 |archive-date=April 19, 2015 |archive-url=https://web.archive.org/web/20150419021001/https://consumermediallc.files.wordpress.com/2015/03/sprintstoreplan.pdf |url-status=dead }} In May 2015, the acquisition of the "RadioShack" name and its assets by General Wireless for US$26.2 million was finalized.{{cite news|title=Bankruptcy Judge Approves Sale of RadioShack Name and Data |url=https://www.nytimes.com/2015/05/21/business/bankruptcy-judge-approves-sale-of-radioshack-name-and-data.html |work=New York Times |date=May 20, 2015 |access-date=July 8, 2015}}{{cite news |title=RadioShack Name Goes to Standard General for $26.2 Million |url=https://www.bloomberg.com/news/articles/2015-05-13/standard-general-bid-of-26-5-million-wins-radioshack-brand |website=Bloomberg |access-date=May 14, 2015 |first=Dawn |last=McCarty|date=May 13, 2015}} Chief marketing officer Michael Tatelman emphasized that the company that emerged from the 2015 proceedings is an entirely new company, and went on to affirm that the old RadioShack did not re-emerge from bankruptcy, calling it "defunct".{{Cite news |url = http://www.bizjournals.com/dallas/news/2015/12/10/year-in-review-three-things-that-have-changed.html|title = Year in review: Three things that have changed since RadioShack's bankruptcy|last = Kezar|first = Korri|date = December 10, 2015|work = Dallas Business Journal|access-date = December 10, 2015}}
Less than one year after the bankruptcy events of 2015, Ron Garriques and Marty Amschler stepped down from their respective chief executive officer and chief financial officer positions; Garriques had held his position for nine months.{{cite news|url=http://consumerist.com/2016/01/21/radioshacks-new-ceo-quits-after-less-than-1-year/|title=RadioShack's New CEO Quits After Less Than 1 Year|first=Laura|last=Northrup|date=January 21, 2016|access-date=January 15, 2016 |work=Consumerist}}{{cite news|url=http://www.chainstoreage.com/article/radioshack-looking-new-ceoagain|title=RadioShack looking for a new CEO—again|first=Marianne|last=Wilson|date=January 22, 2016|work=Chain Store Age|access-date=January 25, 2016|archive-date=January 24, 2016|archive-url=https://web.archive.org/web/20160124213944/http://www.chainstoreage.com/article/radioshack-looking-new-ceoagain|url-status=dead}}{{cite news |url=http://www.star-telegram.com/news/business/article55646755.html|title=New RadioShack CEO departs after less than a year on the job |first=Steve |last=Kaskovich |work=Star-Telegram |access-date=January 25, 2016| date=January 20, 2016}}
== 2017 bankruptcy ==
It was speculated on March 2, 2017, that General Wireless was preparing to take RadioShack through its second bankruptcy in two years.{{cite news |url=https://www.bloomberg.com/news/articles/2017-03-03/radioshack-s-successor-said-to-be-preparing-bankruptcy-filing|title=RadioShack's Successor Preparing to File for Bankruptcy, Sources Say|date=March 2, 2017|access-date=March 3, 2017|publisher=Bloomberg|first1=Lauren|last1=Coleman-Lochner|first2=Jodi Xu |last2=Klein |first3=Scott |last3=Moritz |website=Bloomberg.com }} This was evidenced when dozens of corporate office employees were laid off and two hundred stores were planned to be shuttered,{{cite news| url=http://www.star-telegram.com/news/business/article136754153.html|title=Changes underway at RadioShack as Sprint pulls out of some stores |date=March 6, 2017|access-date=March 7, 2017|publisher=Star-Telegram|first=Steve |last=Kaskovich}} and further evidenced when the RadioShack website began displaying "all sales final" banners for in-store purchases at all locations.
RadioShack's Chapter 11 bankruptcy was formally filed on March 8, 2017.{{cite news |url=http://www.fortworthbusiness.com/news/radioshack-files-for-bankruptcy/article_b35e5aa8-047b-11e7-8c07-2bba97de1808.html |title=RadioShack files for bankruptcy |author=J.B. Reed |date=March 8, 2017 |access-date=March 8, 2017 |publisher=Fort Worth Business Press |archive-date=March 9, 2017 |archive-url=https://web.archive.org/web/20170309052942/http://www.fortworthbusiness.com/news/radioshack-files-for-bankruptcy/article_b35e5aa8-047b-11e7-8c07-2bba97de1808.html |url-status=dead }} Of the then 1,300 remaining stores, several hundred were converted into Sprint-only locations.{{cite news|url=http://libn.com/2017/03/14/radioshack-closing-more-stores-some-on-li/ |title=RadioShack closing more stores, some on LI |first=David|last=Winzelberg|access-date=March 14, 2017|date=March 14, 2017|publisher=Long Island Business News |website=libn.com}}
Despite declaring Chapter 11 bankruptcy (typically reserved for reorganization of debt) instead of Chapter 7 (liquidation), the company engaged in liquidation of all inventory, supplies, and store fixtures, as well as auctioning off old memorabilia.{{cite news |url=https://www.dallasnews.com/business/retail/2017/07/03/online-auction-radioshack-memorabilia-reminds-us-pasts |title=TRS-80, Duofone microprocessor and more: RadioShack auction items reboot the memory |newspaper=Dallas Morning News |date=July 3, 2017 |first=Maria |last=Halkias}} On May 26, RadioShack announced plans to close all but 70 corporate stores and shift its business primarily to online. These stores closed after Memorial Day Weekend of 2017.{{cite news |last=Woodyard |first=Chris |date=May 31, 2017 |title=RadioShack, closing 1,000 stores, leaves only these 70 |url=https://www.usatoday.com/story/money/business/2017/05/31/radioshack-closes-1000-stores-week-these-72-left/102372912/ |access-date=June 5, 2017 |website=USA Today}} Of the remaining stores, 50 more closed by the end of June 2017.{{cite news |url=http://www.informnny.com/news/local-news/out-of-hope-radioshack-in-watertown-to-close-up-for-good/738612069 |first=Christopher |last=Bucher|date=June 12, 2017 |access-date=June 12, 2017|title=Out of hope: RadioShack in Watertown to close up for good|website=InformNNY.com|publisher=Nexstar Broadcasting, Inc.}}{{cite news|url=http://www.watertowndailytimes.com/news03/watertown-radioshack-to-close-this-month-20170610|title=Watertown RadioShack to close this month |date=June 10, 2017|access-date=June 12, 2017|newspaper=Watertown Daily Times}}
One particular store closing in April 2017 garnered widespread media attention when a Facebook account, calling itself "RadioShack - Reynoldsburg, Ohio", began posting aggressive messages alluding to the bankruptcy, such as "We closed. Fuck you all." RadioShack addressed these posts on their official Facebook page denying any involvement.{{Cite web |url=http://www.inquisitr.com/4167637/rogue-radioshack-ohio-location-goes-flippant-on-facebook-after-closure/|title=Rogue RadioShack Ohio Location Goes Flippant on Facebook After Closure |website=Inquisitr.com|date=April 23, 2017 |language=en|access-date=May 18, 2017}}{{Cite news |date=2017-04-19 |title='Rogue' Radioshack Facebook page lashes out at customers |url=https://www.bbc.com/news/world-us-canada-39642249 |access-date=2024-08-06 |work=BBC News |language=en-GB}}
On June 29, 2017, RadioShack's creditors sued Sprint, claiming that it sabotaged its co-branded locations with newly built Sprint retail stores—which were constructed near well-performing RadioShack locations as determined by confidential sales information. The suit argued that Sprint's actions "destroyed nearly 6,000 RadioShack jobs".{{Cite web |url=https://www.theverge.com/2017/6/30/15904608/radioshack-creditors-sue-sprint|title=Sprint is getting sued for sabotaging RadioShack's comeback |last=Welch |first=Chris |date=June 30, 2017 |website=The Verge |access-date=June 30, 2017}}
General Wireless announced plans on June 12, 2017, to auction off the RadioShack name and IP,{{cite news |url=http://newsismybusiness.com/radioshack-brand-auctioned/|title=RadioShack brand to be auctioned in July|date=June 12, 2017|access-date=June 12, 2017|via=News is my Business|website=newsismybusiness.com}} with bidding to begin on July 18. Bidding concluded on July 19, 2017, when one of RadioShack's creditors, Kensington Capital Holdings, obtained the RadioShack brand and other intellectual properties for US$15 million.{{cite news |url=https://www.reuters.com/article/us-radioshack-kensingtoncapital-idUSKBN1A427F |title=RadioShack brand to survive under new owner: sources |newspaper=Reuters |date=July 19, 2017 |first=Jessica |last=DiNapoli}} Kensington was the sole bidder.{{cite news |url=https://www.retaildive.com/news/radioshack-receives-a-lifeline/447511/ |title=RadioShack receives a lifeline |date=July 20, 2017 |access-date=July 20, 2017 |first=Daphne |last=Howland |website=retaildive.com}}
In October 2017, General Wireless officially exited bankruptcy and was allowed to retain the company's warehouse, e-commerce site, dealer network operations, and up to 28 stores.{{cite news |url=https://money.cnn.com/2017/11/03/news/companies/radioshack-survives-second-bankruptcy/index.html |title=RadioShack survives its second bankruptcy -- barely |website=CNN |date=November 3, 2017 |first=Chris |last=Isidore}}{{cite news |url=https://www.retaildive.com/news/update-radioshack-exits-bankruptcy-again/508449/ |title=UPDATE: RadioShack exits bankruptcy, again |website=Retail Dive |date=January 8, 2018 |first=Ben |last=Unglesbee}}
== Post-bankruptcy ==
RadioShack began shrinking its U.S. headquarters operation in 2017. By September of that year,
it had a staff of 50 and moved to RadioShack's distribution center on Terminal Road just north of the Fort Worth Stockyards.{{cite web |title=Radioshack leaving downtown Fort Worth HQ |url=https://www.star-telegram.com/news/local/fort-worth/article175689051.html |work=Fort Worth Star-Telegram |last=Kaskovich |first=Steve |date=September 27, 2017 |access-date=July 7, 2022}}
In late July 2018, RadioShack partnered up with HobbyTown USA to open up around 100 RadioShack "Express" stores.{{cite news |title=RadioShack Is Now Selling in Unexpected Places. Will Anyone Buy? |url=https://www.entrepreneur.com/article/322966 |access-date=November 30, 2018 |magazine=Entrepreneur |date=November 27, 2018 |first=Clint |last=Carter}}{{cite news |url=https://www.usatoday.com/story/money/2018/07/26/radioshack-plans-open-100-express-locations/843010002/ |title=RadioShack plans to open 100 express locations |newspaper=USA Today |date=July 2, 2018 |first=Dalvin |last=Brown}} HobbyTown owners select which RadioShack products to carry.{{cite news |title=RadioShack making a comeback with new 'express shops' in HobbyTown |url=https://www.opprairie.com/p/news-business/radioshack-making-comeback-new-%E2%80%98express-shops%E2%80%99-hobbytown |newspaper=The Orland Park Prairie |date=November 5, 2018 |first=Brianne |last=Dougherty |access-date=November 30, 2018 |archive-date=March 8, 2021 |archive-url=https://web.archive.org/web/20210308115805/https://www.opprairie.com/p/news-business/radioshack-making-comeback-new-%E2%80%98express-shops%E2%80%99-hobbytown |url-status=dead }}
RadioShack dealerships had re-opened around 500 stores by October 2018.{{cite news |title=RadioShack Opens in Ashtabula Towne Square |url=http://www.starbeacon.com/news/local_news/radio-shack-opens-in-ashtabula-towne-square/article_07417f9d-839a-5b95-98e9-f153c41c1359.html |access-date=November 30, 2018 |newspaper=Star Beacon |date=October 6, 2018 |first=Shelley |last=Terry}} By November 2018, it had signed 77 of HobbyTown's 137 franchise stores.
= Retail Ecommerce Ventures (REV) =
In November 2020, RadioShack's intellectual property and its remaining operations—about 400 independent authorized dealers, about 80 Hobbytown USA affiliate stores, and its online sales operation—were purchased by Retail Ecommerce Ventures (REV), a Florida-based company that had previously purchased defunct retailers Pier 1 Imports, Dress Barn, Modell's Sporting Goods, and Linens 'n Things, along with The Franklin Mint.{{cite news |last=Halkias |first=Maria |date=November 19, 2020 |title=RadioShack — yes, it still exists — continues on with new owners collecting up old brands |url=https://www.dallasnews.com/business/retail/2020/11/19/radioshack-yes-it-still-exists-continues-on-with-new-owners-collecting-up-old-brands/ |url-access=limited |work=The Dallas Morning News |location=Dallas, Texas |access-date=November 19, 2020 }}
In December 2021, REV announced they would use part of the brand name on a cryptocurrency platform called RadioShack DeFi (an abbreviation of decentralized finance). The platform would allow customers to exchange and freely swap existing cryptocurrency tokens for a token called $RADIO through the new platform.{{cite news |last=Egan |first=John |url=https://fortworth.culturemap.com/news/city-life/12-28-21-radioshack-defi-cryptocurrency-retail-ecommerce-ventures/ |title=Former Fort Worth electronics giant RadioShack reboots as cryptocurrency company |work=Fort Worth Culture Map |publisher=CultureMap LLC |date=December 28, 2021 |access-date=December 29, 2021 }}
The Twitter account for RadioShack gained notoriety in June 2022 when it began posting tweets with not safe for work content in an effort to attract attention towards its cryptocurrency platform, then renamed RadioShack Swap.{{cite news |last1=Lu |first1=Yiwen |title=Remember RadioShack? It's now a crypto company with wild tweets. |url=https://www.washingtonpost.com/business/2022/07/01/radio-shack-tweets/ |access-date=March 23, 2023 |newspaper=The Washington Post |date=July 1, 2022}}{{cite news |last1=Graham |first1=Megan |title=How NSFW Tweets Plug Into RadioShack's New Marketing Strategy |url=https://www.wsj.com/articles/how-vulgar-tweets-plug-into-radioshacks-new-marketing-strategy-11657737879?mod=article_inline |access-date=March 23, 2023 |work=The Wall Street Journal |date=July 13, 2022}} The strategy, directed by chief marketing officer Ábel Czupor, received a mixed reaction among dealers; HobbyTown USA subsequently terminated its relationship with RadioShack in response to customer confusion surrounding the posts.{{cite news |last1=Graham |first1=Megan |title=Some RadioShack Dealers Aren't Happy as the Brand Leans on NSFW Tweets |url=https://www.wsj.com/articles/some-radioshack-dealers-arent-happy-as-the-brand-leans-on-nsfw-tweets-11661940000 |access-date=March 23, 2023 |work=The Wall Street Journal |date=August 31, 2022}}
Corporate headquarters
In the 1970s RadioShack had a new headquarters "Tandy Towers" built in downtown Fort Worth on Throckmorton Street. In 2001, RadioShack bought the former Ripley Arnold public housing complex in Downtown Fort Worth along the Trinity River for US$20 million. The company razed the complex and had a {{convert|900000|sqft|adj=on}} corporate headquarters campus built, after the City of Fort Worth approved a 30-year economic agreement to ensure that the company stayed in Fort Worth. RadioShack moved into the campus in 2005.
In 2009, with two years left on a rent-free lease of the building, the Fort Worth Star-Telegram reported that the company was considering a new site for its headquarters.{{cite news |url=http://www.upi.com/Business_News/2009/11/12/RadioShack-seeking-new-headquarters/61271258048646/ |title=RadioShack seeking new headquarters |publisher=UPI.com |date=November 12, 2009 |access-date=February 12, 2015}} The Tampa Bay Business Journal reported rumors among Tampa Bay Area real estate brokers and developers that RadioShack might select Tampa as the site of its headquarters.{{cite news |url=http://dallas.bizjournals.com/dallas/stories/2009/11/09/daily36.html |title=RadioShack might be seeking new headquarters city |newspaper=Dallas Business Journal |date=November 12, 2009 |access-date=November 13, 2009}}
In 2010, however, RadioShack announced efforts to remain at its current site.{{cite news |url=http://www.bizjournals.com/dallas/stories/2010/03/08/daily50.html|title=RadioShack to stay in Fort Worth |first=Bill |last=Hethcock |date=March 12, 2010|access-date=March 17, 2017|work=Dallas Business Journal}} The headquarters was ultimately reduced to a small group after the second bankruptcy filing. In September 2017, what was left of RadioShack (about 50 people) left the downtown location, moving to a warehouse on Terminal Road just north of "The Stockyards".{{cite web |url=https://www.star-telegram.com/news/local/fort-worth/article175689051.html |title=This iconic downtown Fort Worth retailer is packing up and moving out |work=Forth Worth Star-Telegram |last=Kaskovich |first=Steve |date=September 27, 2017 |access-date=July 7, 2022}}
Non-US operations
= InterTAN Inc. =
{{Main|InterTAN}}In 1986, Tandy Corp. announced it would create a spinoff of its international retail operations, called InterTAN Inc. The new company would take over operations of over 2,000 international company-owned and franchised stores, while Tandy retained its 7,253 domestic outlets and 30 of its manufacturing facilities.{{Cite news|url=https://www.nytimes.com/1986/06/10/business/tandy-plans-foreign-retail-spinoff.html|title=TANDY PLANS FOREIGN RETAIL SPINOFF|work=The New York Times |date=June 10, 1986 |access-date=November 13, 2018|language=en}} InterTAN had two main units, Tandy Electronics Ltd., which operated in Canada, the UK, France, Belgium, West Germany, and the Netherlands; and Tandy Australia Ltd., which operated in Australia.{{Cite news|url=https://www.chicagotribune.com/news/ct-xpm-1986-06-10-8602110424-story.html|title=TANDY SPINOFF PLAN WINS BOARD APPROVAL|last=Tribune|first=Chicago|work=chicagotribune.com|access-date=November 13, 2018|language=en-US}}
At the end of 1989, there were 1,417 stores operated by InterTAN under the Tandy or Radio Shack names.{{cite web |url=http://articles.sun-sentinel.com/1989-12-04/business/8902130335_1_radio-shack-stores-tandy-corp-tandy-isn-t |title=Tandy Isn't Ltd. When It's Abroad |newspaper=Sun Sentinel |date=December 4, 1989 |author= |access-date=February 8, 2015 |archive-date=February 8, 2015 |archive-url=https://web.archive.org/web/20150208225128/http://articles.sun-sentinel.com/1989-12-04/business/8902130335_1_radio-shack-stores-tandy-corp-tandy-isn-t |url-status=dead }} InterTAN operated Tandy or Radio Shack stores in the UK until 1999 and Australia until 2001.{{cite web|url=http://www.woolworthslimited.com.au/icms_docs/129911_Concise_Report_2001.pdf|title=2001 Concise report to shareholders|website=Woolworths Limited|access-date=July 24, 2016}} RadioShack branded merchandise accounted for 9.5% of InterTAN's inventory purchases in its 2002–2003 fiscal year, the last complete year before the Circuit City acquisition, and later disappeared from stores entirely.{{cite news|url=http://www.richmond.com/business/article_b70781c7-e872-5e6a-adc5-e354d89b80ca.html|title=Circuit City Stores Inc. and InterTAN Inc. have signed an agreement...|date=April 1, 2004|access-date=February 23, 2015|newspaper=Richmond Times-Dispatch}}
= Canada =
{{See also|The Source (retailer)}}Following the creation of InterTAN, Tandy Electronics operated 873 stores in Canada, and owned the rights to the RadioShack name.{{Cite news|url=https://www.cbc.ca/news/business/canadian-radioshack-stores-get-new-name-1.565980|title=Canadian RadioShack stores get new name {{!}} CBC News|work=CBC|access-date=November 13, 2018|language=en-US}} In 2004, Circuit City purchased InterTAN, which held the rights to use the RadioShack name in Canada until 2010. Radio Shack Corp., which operated Radio Shack stores in the US, sued InterTAN in an attempt to end the contract for the company name early. On March 24, 2005, a US district court judge ruled in favour of RadioShack,{{cite web|url=http://billingsgazette.com/business/chain-will-appeal-radioshack-ruling/article_55c2dc40-9f18-568f-a9fa-6cad98af3092.html|title=Chain will appeal RadioShack ruling|work=The Billings Gazette|date=March 28, 2005 }} requiring InterTAN stop using the brand name in products, packaging or advertising by June 30, 2005. The Canadian stores were rebranded under the name "The Source by Circuit City".{{cite news|url=http://www.cbc.ca/news/business/canadian-radioshack-stores-get-new-name-1.565980|title=Canadian RadioShack stores get new name|date=April 27, 2005|work=cbc.ca}} Radio Shack briefly re-entered the Canadian market,{{cite web|url=http://www.twice.com/news/news/c-city-sues-radioshack/30380|title=C'City Sues RadioShack|work=twice.com|date=May 18, 2005}} but eventually closed all stores to refocus attention on its core US business.{{cite web|url=http://www.radioshack.ca/|title=Important information about RadioShack Canada|work=radioshack.ca|archive-url=https://web.archive.org/web/20080828210944/http://www.radioshack.ca/|archive-date=August 28, 2008}}
The Source was acquired by BCE Inc. in 2009.{{cite news |date=17 December 2014 |title=Rogers turns to courts in attempt to block Glentel sale to BCE |url=https://www.theglobeandmail.com/report-on-business/rogers-attempts-to-block-glentel-sale-to-bce/article22126154/ |accessdate=18 December 2014 |work=The Globe and Mail}} In January 2024, Bell announced a brand licensing agreement with its competitor Best Buy,{{Cite web |last=Daley |first=Dean |date=2024-02-06 |title=Bell to close The Source headquarters, lay off employees following Best Buy Express rebrand |url=https://mobilesyrup.com/2024/02/06/bell-the-source-lay-offs-closing-headquarters/ |access-date=2024-02-09 |website=MobileSyrup |language=en}} which will see its locations rebranded as Best Buy Express and integrated into Best Buy's retail network, but remain under the ownership of BCE.{{cite web |last=Toneguzzi |first=Mario |date=June 26, 2024 |title=Best Buy Express Opens 1st Store in Canada, Plans 167 Small-Format Locations |url=https://retail-insider.com/retail-insider/2024/06/best-buy-express-opens-1st-store-in-canada-plans-167-small-format-locations/ |access-date=July 4, 2024 |work=Retail Insider}}
= Asia =
In March 2012, Malaysian company Berjaya Retail Berhad, entered into a franchising agreement with Radio Shack.515 non-US stores were open in March 2012 per {{cite web |url=http://www.nbcdfw.com/news/business/Malay-Company-to-Open-1000-Radio-Shack-Stores-143964146.html |title=Malay Company to Open 1,000 Radio Shack Stores |work=NBC DFW |agency=Associated Press |date=March 23, 2012 |access-date=July 7, 2022}} - subtracting the 275 company-owned Mexico locations gives 240 stores franchised abroad. Later that year, the company announced a second franchising deal with Chinese company, Cybermart.{{Cite news|url=https://www.nbcdfw.com/news/business/Radio-Shack-Continues-Expansion-in-Asia-158138565.html|title=Radio Shack Continues Expansion in Asia|work=NBC 5 Dallas-Fort Worth|access-date=November 13, 2018|language=en}}
Berjaya had six stores in Malaysia before it quietly ceased operations in 2017.{{cite web |url=http://www.radioshack.com.my:80/our-stores/ |title=Our Stores |work=Radioshack Malaysia |archive-url=https://web.archive.org/web/20170709221812/http://www.radioshack.com.my/our-stores/ |archive-date=July 9, 2017 |url-status=dead |access-date=November 19, 2019 }}
= Mexico =
{{anchor|RadioShack de México}}
{{Infobox company
| name = RadioShack de México S.A. de C.V.
| trade_name = RadioShack
| logo = RadioShackLogo.png
| logo_size =
| logo_caption = Amamos la technología
| image = RadioShack storefront in Tijuana Mexico.jpg
| image_caption = RadioShack store in the Macroplaza shopping mall in Tijuana, Mexico (2019)
| type = Subsidiary
| ISIN =
| predecessors =
| founded = {{start date and age|1986}}
Mexico City, Mexico
| founders =
| location = Mexico City, Mexico
| num_locations = 225 (all company owned)
| area_served = Mexico
| industry = E-commerce, retail
| products = Consumer electronics
| services =
| operating_income =
| net_income =
| assets =
| website = {{URL|www.radioshack.com.mx}}
| footnotes =
| parent = Grupo Gigante (2015–present)
}}
In 1986, Grupo Gigante signed a deal with Tandy Corporation to operate Radio Shack branded stores in Mexico. After growing their electronics chain within Mexico to 24 stores, Grupo Gigante signed a new deal with Tandy in 1992 to form a new joint ventured called Radio Shack de México
File:Puerto Vallarta Radio Shack.jpg, Mexico (2005)|alt=|left]]
in which both companies had an equal share. As part of the deal, Grupo Gigante transferred their electronics stores to Radio Shack de México.{{cite news|url=https://www.upi.com/Archives/1992/07/02/Joint-venture-to-expand-Radio-Shack-in-Mexico/6012710049600/|title=Joint venture to expand Radio Shack in Mexico|author=|date=July 2, 1992|newspaper=United Press International}}
In 2008, Grupo Gigante separated from Radio Shack, (then renamed Radio Shack Corporation) and sold its share of the joint venture to Radio Shack Corp. for $42.3 million.{{cite news |url=https://www.reuters.com/article/gigante-radioshack-idUSN1553529120081216 |title=Mexico's Gigante sells stake in Radio Shack |newspaper=Reuters |date=December 16, 2008 |author=}}
In June 2015, Grupo Gigante repurchased 100 percent of RadioShack de Mexico, including stores, warehouses, and all related brand names and intellectual properties for use within Mexico, from the US Bankruptcy Court in Delaware for US$31.5 million. The chain had 247 stores in Mexico at the time of the sale.{{cite news |url=https://www.eluniversal.com.mx/articulo/cartera/negocios/2015/06/18/grupo-gigante-concluye-compra-de-radio-shack |title=Grupo Gigante concluye compra de Radio Shack: El monto de la transacción fue de 31.5 millones de dólares |newspaper=El Universal (Mexico City) |date=June 18, 2015 |language=es |first=Miguel Ángel |last=Pallares Gómez |trans-title=Grupo Gigante concludes purchase of Radio Shack |quote="El monto de la transacción fue de 31.5 millones de dólares, menos 20.5 millones de dólares del pago de pasivos existentes inter compañías, a favor de Radio Shack de México, SA de CV y se cubrió con el flujo operativo de Office Depot de Mexico", precisó la compañía en un comunicado enviado a la Bolsa Mexicana de Valores (BMV)... "A partir de esta fecha, Office Depot de México, SA de CV adquirió 247 tiendas en operación en México y la totalidad de las marcas, nombres comerciales, dominios y otros derechos de propiedad industrial relacionados a Radio Shack", destacó la empresa dirigida por Ángel Losada Moreno. |access-date=November 17, 2018 |archive-date=November 18, 2018 |archive-url=https://web.archive.org/web/20181118040828/https://www.eluniversal.com.mx/articulo/cartera/negocios/2015/06/18/grupo-gigante-concluye-compra-de-radio-shack |url-status=dead }}{{cite news |url=https://www.forbes.com.mx/grupo-gigante-concreta-compra-de-radio-shack/ |title=Grupo Gigante concreta compra de Radio Shack |magazine=Forbes |date=June 18, 2015 |author= |language=es |trans-title=Grupo Gigante specifically buys Radio Shack |quote=Gigante adquirió 247 tiendas en operación en México y la totalidad de las marcas, nombres comerciales, dominios y otros derechos de propiedad industrial relacionados a Radio Shack.}}{{cite news|url=https://www.theregister.co.uk/2015/02/06/radioshack_bankruptcy/|title=Bankrupt RadioShack to close up to 2,900 stores, share others with Sprint|last=McAllister|first=Neil|date=February 6, 2015|work=The Register|access-date=April 26, 2016}}{{cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=46002741|title=Company Overview of RADIO SHACK DE MÉXICO, S.A. DE C.V.|work=Bloomburg|access-date=April 26, 2016}} Following the sale, all Radio Shack stores, warehouses, brands, assets, and related trademarks in Mexico are currently owned by RadioShack de México S.A. de C.V., a subsidiary of Grupo Gigante.
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 debt liabilities.{{cite news |url=https://www.proceso.com.mx/399647/grupo-gigante-compra-el-100-de-las-acciones-de-radioshack |title=Grupo Gigante compra el 100% de las acciones de RadioShack |website=Proceso Magazine |date=March 27, 2015 |first=Juan Carlos |last=Vargas Cruz |trans-title=Grupo Gigante buys 100% of the shares of RadioShack |quote=Aún sin transcurrir dos meses de que la minorista de productos electrónicos estadunidense RadioShack se declaró en quiebra, Grupo Gigante adquirió 100% de las acciones de la filial en México, equivalente a 31.8 millones de dólares.}}
While Radio Shack was facing a second bankruptcy in the United States, Grupo Gigante announced in October 2017 that they planned to expand the Radio Shack brand within Mexico by opening eight more stores.{{cite news |url=https://www.forbes.com.mx/radioshack-agoniza-en-eu-y-en-mexico-quiere-crecer/ |title=RadioShack 'agoniza' en EU y en México quiere crecer |website=Forbes |date=October 17, 2017 |first=Fernanda |last=Celis |language=es |trans-title=RadioShack 'agonizes' in the US and in Mexico wants to grow}}
= Latin America & the Caribbean =
{{anchor|RadioShack (Unicomer)}}
{{Infobox company
| name = RadioShack (Unicomer)
| trade_name = radioshack
| logo = RadioShack Logo 2013.png
| logo_size =
| logo_caption =
| image =
| image_caption =
| type = Subsidiary
| ISIN =
| predecessor = RadioShack Corporation
| founded = {{start date and age|1998|01}}
El Salvador
| founders =
| location = San Salvador, El Salvador
| num_locations = 60 (company owned)
245 (franchised)
| area_served = Central America, South America, Caribbean
| industry = E-commerce, retail
| products = Consumer electronics
| services =
| operating_income =
| net_income =
| assets =
| equity =
| divisions =
| subsid =
| website = {{URL|radioshackla.com}}
| footnotes =
| parent = Grupo Unicomer
}}
File:Radio Shack store.jpg (2017), showing the slightly different logo used by Unicomer|alt=|left]]
When Radio Shack Corporation filed for bankruptcy the first time in 2015, the Unicomer Group (Grupo Unicomer) purchased the Radio Shack brand from the bankruptcy court for its exclusive use in Latin America and the Caribbean, except Mexico.{{cite news |url=https://businessviewcaribbean.com/unicomer-group-jamaica-adding-value-every-day/ |title=Unicomer Group, Jamaica |website=Business View Magazine |date=November 21, 2017 |author=}} Unicomer, through its corporate parent Regal Forest Holding Co. Ltd., paid $5 million for the brand.{{cite news |url=https://www.thestreet.com/story/13093422/1/standard-general-wins-radioshack-auction-with-140m-offer.html |title=Standard General Wins RadioShack Auction With $140M Offer |website=TheStreet.com |date=March 27, 2015 |first=Kirk |last=O'Neil}}
The company's relationship with Radio Shack dated back to 1998, when Unicomer opened its first Radio Shack franchise store in El Salvador. It later expanded into Honduras, Guatemala, and Nicaragua. By January 2015, Unicomer had 57 Radio Shack stores distributed throughout four countries within Central America.
In April 2015, Unicomer began receiving franchise payments from franchises in several countries that Unicomer had not previously had a business presence in.{{cite web |url=http://www.grupounicomer.com/en/cadenas/radio-shack/ |title=RadioShack |work=Unicomer Group}} It expanded into Trinidad in 2016,{{cite web |url=http://www.grupounicomer.com/en/grupo-unicomer-abre-su-primera-tienda-radioshack-en-el-caribe/ |title=Unicomer Group opens its first RadioShack store in the Caribbean |work=Unicomer Group|date=December 17, 2016 }} Jamaica in 2017,{{cite news |url=http://www.jamaicaobserver.com/business-observer/radioshack-coming-to-mandeville_105599 |title=RadioShack coming to Mandeville |newspaper=Jamaica Observer |date=July 26, 2017 |author=}} Barbados in 2017,{{cite news |url=http://www.loopnewsbarbados.com/content/radioshack-back-barbados |title=RadioShack back in Barbados |website=Loop News Barbados |date=April 19, 2017 |author= |access-date=November 18, 2018 |archive-date=August 9, 2020 |archive-url=https://web.archive.org/web/20200809163433/http://www.loopnewsbarbados.com/content/radioshack-back-barbados |url-status=dead }} and Guyana in 2017.{{cite news |url=http://guyanachronicle.com/2017/06/17/radio-shack-store-opens-at-giftland-mall |title=Radio Shack store opens at Giftland Mall |newspaper=Guyana Chronicle |date=June 17, 2017 |author=}}
By the end of 2017, Unicomer had company-owned stores located in the countries of Barbados, El Salvador, Guatemala, Guyana, Honduras, Jamaica, Nicaragua, and Trinidad while receiving franchise payments from independent franchised stores located in the countries of Antigua, Aruba, Costa Rica, Paraguay and Peru in which Unicomer did not have a business presence in. Since 2014, the independent company Coolbox is an authorized dealer for RadioShack products in Peru.{{cite web |url=https://gestion.pe/economia/empresas/coolbox-ingresa-peru-accesorios-tecnologicos-dirigidos-publico-juvenil-151020-noticia/ |title=Coolbox ingresa al Perú con accesorios tecnológicos dirigidos a público juvenil |date=October 6, 2014 |work=Gestión |trans-title=Coolbox enters Peru with technological accessories aimed at young audiences |language=es |quote="Dos líderes en electrónica se unen para ofrecer experiencia, modernidad e innovación para un publico objetivo cada vez más grande y demandante de novedades tecnológicas como son los teclados virtuales, relojes que miden pulsaciones, celulares, entre otros gadgets", destacó Rafael Treistman, director gerente de Rash Perú.}}
In April 2018, the RadioShack brand returned to Bolivia when franchisee Cosworld Trading opened two franchised stores for Unicomer in the capital city of La Paz.{{cite news |url=https://www.eldeber.com.bo/economia/RadioShack-vuelve-a-Bolivia-con-dos-nuevas-tiendas-en-La-Paz--20180409-6473.html |title=RadioShack vuelve a Bolivia con dos nuevas tiendas en La Paz |website=El Deber |date=April 9, 2018 |first=Mauricio |last=Vasquez |language=es |trans-title=RadioShack returns to Bolivia with two new stores in La Paz}} The previous RadioShack stores had closed in 2015 as a result of RadioShack first bankruptcy filing.
= Middle East =
{{anchor|RadioShack Egypt}}
{{Infobox company
| name = Radio Shack Egypt
| trade_name = RadioShack
| logo =
| logo_size =
| logo_caption =
| image =
| image_caption =
| type = Subsidiary
| ISIN =
| predecessor = RadioShack Corporation
| founded = {{start date and age|1998}}
Nasr City, Egypt
| founders =
| location = Giza, Egypt
| num_locations = 65 (company owned)
15 (franchised)
| area_served = Egypt
| industry = E-commerce, retail
| products = Consumer electronics
| services =
| operating_income =
| net_income =
| assets =
| equity =
| divisions =
| subsid =
| website = {{URL|radioshack.com.eg}}
| footnotes =
| parent = Delta RS for Trading
}}
When Radio Shack filed for bankruptcy the first time in 2015, the Egypt-based Delta RS for Trading purchased the Radio Shack brand from the bankruptcy court for its exclusive use in Middle East and North Africa for $US5 million.{{cite news |url=https://www.thestreet.com/story/13130825/1/radioshack-set-to-put-intellectual-property-last-store-leases-on-the-auction-block.html |title=Store Leases on the Auction Block |website=TheStreet.com |date=April 29, 2015 |first=Kirk |last=O'Neil}}
Delta RS for Trading, as Radio Shack Egypt, had opened its first Radio Shack franchised store in 1998 in Nasr City. By March 2003, Radio Shack Egypt had 65 company-operated stores plus 15 sub-franchised stores.{{cite web |url=https://radioshack.com.eg/en/information/information&information_id=4 |title=About Us |work=Radio Shack Egypt}} In 2017, the Egyptian government accused Radio Shack Egypt and its parent Delta RS in aiding the Muslim Brotherhood.{{cite news |url=https://www.egypttoday.com/Article/1/19256/Gov%E2%80%99t-freezes-assets-of-19-companies-affiliated-to-MB |title=Gov't freezes assets of 19 companies affiliated to MB |magazine=Egypt Today |date=August 24, 2017 |author=}}{{cite news |url=https://www.middleeastmonitor.com/20180913-egypt-seizes-funds-of-oppositionists-and-state-treasury-devours-aboutrikas-assets/ |title=Egypt seizes funds of oppositionists and State Treasury devours Aboutrika's assets |website=Middle East Monitor |date=September 13, 2018 |author=}}
Other operations
= Corporate citizenship =
In 2006, RadioShack supported the National Center for Missing & Exploited Children by providing store presence for the StreetSentz program, a child identification and educational kit offered to families without charge.{{Cite news|url=https://www.chron.com/news/article/PRN-RadioShack-and-the-National-Center-for-1853975.php|title=(PRN) RadioShack and the National Center for Missing & Exploited Children Announce Enhanced Online Resource for Families|date=May 22, 2006|work=Houston Chronicle|access-date=October 29, 2018}} RadioShack supported United Way of America Charities to assist their Oklahoma and Texas relief efforts after the 2013 Moore tornado. RadioShack's green initiative promotes the Rechargeable Battery Recycling Corporation, which accepts end-of-life rechargeable batteries and wireless phones dropped off in-store to be safely recycled.{{Cite web|url=https://www.call2recycle.org/nearly-3-4-million-pounds-of-rechargeable-batteries-collected-in-2002/|title=Nearly 3.4 Million Pounds Of Rechargeable Batteries Collected In 2002 – Call2Recycle {{!}} United States |work=Recharging the Planet. Recycling Your Batteries |date=January 9, 2003 |language=en-US |access-date=December 11, 2018}}
= Other retailer partnerships =
In August 2001, RadioShack opened kiosk-style stores inside Blockbuster outlets, only to abandon the project in February 2002; CEO Len Roberts announced that the stores did not meet expectations.{{cite news| url=http://www.findarticles.com/p/articles/mi_m0FNP/is_2_41/ai_82105519| archive-url=https://web.archive.org/web/20060526134705/http://findarticles.com/p/articles/mi_m0FNP/is_2_41/ai_82105519| url-status=dead| archive-date=May 26, 2006|work=DSN Retailing Today|title=Blockbuster pursues CE, as RadioShack deal dies - Consumer electronics launch in 2002 - Brief Article|first=Doug|last=Desjardins|year=2002}}
RadioShack operated wireless kiosks within 417 Sam's Club discount warehouses from 2004 to 2011. The kiosk operations, purchased from Arizona-based Wireless Retail Inc,"Wireless Retail" is defunct as of 2006, per [https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=4245726 Bloomberg.com] operated as a subsidiary, SC Kiosks Inc., with employees contracted through RadioShack Corporation. No RadioShack-branded merchandise was sold. The kiosks closed in 2011, costing RadioShack an estimated US$10–15 million in 2011 operating income.{{cite news|title=RadioShack to lose Sam's kiosk revenue |url=http://www.bizjournals.com/dallas/news/2011/01/11/radioshack-to-lose-sams-kiosk-segment.html |newspaper=Dallas Business Journal |date=January 11, 2011}}
RadioShack then attempted a joint venture with Target to deploy mobile telephone kiosks in 1,490 Target stores by April 2011.{{cite web |url=http://www.phonescoop.com/news/item.php?n=6374 |archive-url=https://archive.today/20120912052407/http://www.phonescoop.com/news/item.php?n=6374 |url-status=dead |archive-date=September 12, 2012 |title=RadioShack Expanding to Target Stores with Kiosks |publisher=Phone Scoop |access-date=July 8, 2013}}{{cite web |url=http://www.phonescoop.com/news/item.php?n=6504 |archive-url=https://archive.today/20120912091601/http://www.phonescoop.com/news/item.php?n=6504 |url-status=dead |archive-date=September 12, 2012 |title=Target Moves Forward with Bullseye Mobile, Adds Tech Support |publisher=PhoneScoop |date=August 25, 2010 |access-date=July 8, 2013}} In April 2013, RadioShack's partnership with Target ended and the Target Mobile in-store kiosks were turned over to a new partnership with Brightstar and MarketSource.{{cite web |last=Santos|first=Alexis|title=RadioShack's Target Mobile partnership to end on April 8th |url=https://www.engadget.com/2013/01/14/radioshacks-target-mobile-april-8th/ |work=Engadget |date=January 14, 2013 |publisher=AOL Inc. |access-date=March 16, 2014}}
== No-contract wireless ==
{{Main|Cricket Wireless#Partnership with RadioShack}}
On September 5, 2012, RadioShack in a partnership with Cricket Wireless, began offering its own branded no-contract wireless services using Cricket and Sprint's nationwide networks. The service was discontinued on August 7, 2014; clients who had already purchased the service from RadioShack continue to receive service from Cricket Wireless.{{cite web|author=Mike Dano |url=http://www.fiercewireless.com/story/mvno-shakeout-radioshack-discontinues-wireless-service-spot-mobile-shuts-do/2014-08-13 |title=MVNO shakeout: RadioShack discontinues wireless service, Spot Mobile shuts down |publisher=FierceWireless |date=August 13, 2014 |access-date=February 12, 2015}}
= Cycling team sponsorship =
{{Main|Team RadioShack}}
In 2009, the company became the main sponsor of a new cycling team, Team RadioShack, with Lance Armstrong and Johan Bruyneel.{{cite web |url=https://www.espn.com/olympics/tdf2009/news/story?id=4349772|title=Source: Lance's team lands sponsor|publisher=ESPN|author=Bonnie D. Ford|date=July 23, 2009}} RadioShack featured Armstrong in a number of television commercials and advertising campaigns.{{cite web|url=http://teamradioshack.com |archive-url=https://web.archive.org/web/20130122012241/http://www.teamradioshack.com/ |url-status=usurped |archive-date=January 22, 2013 |title=The Official Team Site of |publisher=Team RadioShack |access-date=February 9, 2016}}{{cite web |url=http://ir.radioshackcorporation.com/releasedetail.cfm?ReleaseID=398636 |title=RadioShack Corporation - RadioShack Partners With Seven-Time Tour de France Winner Lance Armstrong to Form New Cycling Team in 2010 |publisher=Ir.radioshackcorporation.com |date=July 23, 2009 |access-date=May 24, 2010 |url-status=dead |archive-url=https://web.archive.org/web/20090728084503/http://ir.radioshackcorporation.com/releasedetail.cfm?releaseid=398636 |archive-date=July 28, 2009 }} RadioShack came under fire for having Armstrong as a spokesperson in 2011, when allegations that the cyclist had used performance-enhancing drugs surfaced.{{cite web|url=http://www.prdaily.com/crisiscommunications/Articles/Should_RadioShack_dump_Lance_Armstrong_as_its_spok_8472.aspx|title=Should RadioShack dump Lance Armstrong as its spokesman?|publisher=Prdaily.com|date=June 6, 2011|access-date=April 26, 2016|first=Kevin|last=Allen|archive-url=https://web.archive.org/web/20160714065647/http://www.prdaily.com/crisiscommunications/Articles/Should_RadioShack_dump_Lance_Armstrong_as_its_spok_8472.aspx|archive-date=July 14, 2016|url-status=dead}}
Lawsuits
In September 1999, AutoZone, Inc., sued Tandy Corp., then the owner of RadioShack, in a federal district court in Tennessee for infringing the AutoZone trademark by using the name "PowerZone" for a section in RadioShack's retail stores. In November 2001, the district court granted Tandy's motion for summary judgment to dismiss the case, finding that AutoZone failed to prove that the use of "PowerZone" infringed the "AutoZone" trademark. AutoZone appealed that decision. In June 2004, the federal court of appeals affirmed the district court's dismissal of the case.AutoZone, Inc. v. Tandy Corp., [https://law.resource.org/pub/us/case/reporter/F3/373/373.F3d.786.01-6571.html 373 F.3d 786] (6th Cir. 2004).
In June 2011, a customer sued Sprint and RadioShack after finding pornography on their newly purchased cell phones.{{cite magazine |first=JuJu |last=Kim |url=https://newsfeed.time.com/2012/10/08/13-year-old-girl-finds-porn-on-new-cell-phone/ |title=13-Year-Old Girl Finds Porn On New Cell Phone |magazine=TIME |date=October 8, 2012 |access-date=February 10, 2016}}
In 2012, a Denver jury awarded $674,938 to David Nelson, a 25-year RadioShack employee who had been fired in retaliation for complaining about age discrimination.{{cite press release|url=http://www.eeoc.gov/eeoc/newsroom/release/2-28-13a.cfm |title=EEOC Wins Second Victory Against RadioShack in Retaliation Case |publisher=Equal Employment Opportunity Commission |date=February 28, 2013 |access-date=February 10, 2016}}
In 2013, a federal jury awarded over $1 million in an age discrimination suit to a longtime RadioShack store manager who was fired in 2010 from the San Francisco store he had managed since 1998.{{cite news|last=Egelko |first=Bob |url=http://www.sfgate.com/bayarea/article/Ex-Radio-Shack-worker-awarded-1-million-4333707.php |title=Ex-Radio Shack worker awarded US$1 million |newspaper=SFGate |date=March 6, 2013 |access-date=February 15, 2015}}
In July 2014, in Verderame v. RadioShack Corp., the U.S. District Court for the Eastern District of Pennsylvania found that RadioShack owed its store managers in Pennsylvania a possible US$5.8 million for unpaid overtime.{{cite magazine|last=Pearson |first=Sophia |url=https://www.bloomberg.com/news/articles/2014-07-11/radioshack-found-liable-in-pennsylvania-overtime-lawsuit |title=RadioShack Found Liable in Pennsylvania Overtime Lawsuit |magazine=Bloomberg Business |date=July 10, 2014 |access-date=February 15, 2015}}
In popular culture
- In the 1980 film Used Cars, an electronics engineer needs equipment to do some last-minute repairs to a bootleg microwave transmitter, and says to his partner, "RadioShack closes in half an hour."{{cite web |url=https://www.scripts.com/script/used_cars_22662/8 |title=Used Cars Movie Script (Page 8) |website=Scripts.com |access-date=March 26, 2024}}
- A "Radio Shock" store (owned by the "Tandy Corporation") appeared in the original 1991 release of Space Quest IV, displaced by "Hz. So Good" in later editions because of threats of legal action by Tandy.{{cite web|url=http://www.movie-censorship.com/report.php?ID=5975601|access-date=March 8, 2017|title=Space Quest IV (Comparison: CD-Rom Version - Original Floppy Disc-Version)|website=Movie-Censorship.com|quote=Inside the shopping mall Galaxy Galleria, there is an electronics store named "Radio Shock", which is a persiflage to the real existing US-electronics store chain "Radio Shack".}}
- RadioShack is featured prominently in Short Circuit 2, which serves as a "clinic" for Johnny 5 while he repairs himself after being assaulted by thieves.{{cite web|url = https://www.joblo.com/movie-news/awfully-good-short-circuit-2-311-02&order=desc|last = Adams|first = Jason|publisher = JoBlo Movie News|date = March 4, 2015|access-date = November 10, 2015|title = Awfully Good: Short Circuit 2|quote = "Luckily, he collapsed right next to a Radio Shack, which is like the Mayo Clinic for robots"|archive-url = https://web.archive.org/web/20160304054311/http://www.joblo.com/movie-news/awfully-good-short-circuit-2-311-02%26order%3Ddesc|archive-date = March 4, 2016|url-status = dead}}
- RadioShack is mentioned and briefly featured on the pilot episode of Young Sheldon.{{cite news|url=https://www.foxnews.com/entertainment/young-sheldon-premiere-recap-a-mothers-love-steals-the-show/|title='Young Sheldon' premiere recap: A mother's love steals the show|first=Tyler|last=McCarthy|website=Foxnews.com|date=September 25, 2017|access-date=October 31, 2017|quote="...the episode ends on a small victory for young Sheldon, as his mother fulfills her promise and takes him to Radio Shack. "In a world filled with uncertainty... this place will be here forever," he says, highlighting the fact that he's got a lot to learn..."}} Visits to RadioShack are a frequent plot point in the Young Sheldon series, building off allusions to childhood visits made by the character Sheldon Cooper in its parent series, The Big Bang Theory. The family returns to the RadioShack store in a later episode, where his mother purchases him a Tandy 1000.
- RadioShack appears in the second season of the Netflix series Stranger Things as the workplace of Bob Newby.{{cite web|url=https://www.vulture.com/2017/10/stranger-things-recap-season-2-episode-5-dig-dug.html|title=Stranger Things Recap: Bob the Brain|date=October 27, 2017|access-date=October 31, 2017|first=Hillary|last=Kelly|quote="A nerd in high school, Bob has obviously shrugged off any youthful bullying with the knowledge that he is way smarter than the average Hawkins resident. In a small town in the '80s that meant a job at RadioShack"|website=Vulture.com}} In one scene, an Armatron (a product actually sold at RadioShack during that period) can be seen on a shelf above his head.
- In the 2001 re-make of the 1960 movie Ocean's Eleven, after Livingston asks an FBI agent to not touch his equipment by asking, "Do you see me grabbing the gun out of your holster and waving it around?", the agent retorts with "Hey 'RadioShack', relax".{{cite web|url=https://www.masterpiece-movie-lines.com/oceans-eleven-movie-lines.html|title=Oceans Eleven Movie Lines|access-date=April 22, 2019|website=Masterpiece-Movie-Lines.com}}
- American sportswriter and YouTuber Jon Bois worked at RadioShack sometime in the early to mid 2000s, later publishing multiple articles detailing his personal experiences as an employee.{{Cite web |last=Bois |first=Jon |date=November 26, 2014 |title=A eulogy for RadioShack, the panicked and half-dead retail empire |url=https://www.sbnation.com/2014/11/26/7281129/radioshack-eulogy-stories |access-date=February 26, 2021 |website=SBNation.com |language=en}}{{Cite web |last=Bois |first=Jon |date=November 5, 2020 |title=The ballpoint pen |url=https://www.sbnation.com/secret-base/21549280/ballpoint-pen-reviewed |access-date=February 26, 2021 |website=SBNation.com |language=en}}{{Cite web |last=Bois |first=Jon |date=February 19, 2015 |title=The end of RadioShack, through the eyes of a store manager |url=https://www.sbnation.com/2015/2/19/8045959/radioshack-manager-closing-bankruptcy |access-date=February 26, 2021 |website=SBNation.com |language=en}}
Notes
{{Notelist}}
References
{{Reflist}}
Further reading
- {{cite book |last = Irvin |first = Farman |title = Tandy's Money Machine : How Charles Tandy Built Radio Shack into the World's Largest Electronics Chain |publisher = Mobium Press |location = Chicago |year = 1992 |isbn = 0-916371-12-3 |url-access = registration |url = https://archive.org/details/tandysmoneymachi00farm }}
- Hayden, Andrew, [http://www.antiqueradio.com/Feb07_RadioShack_Tesla.html "Radio Shack: A Humble Beginning for an Electronics Giant"], antiqueradio.com, February 2007
External links
{{Portal|Companies}}
{{Commons category}}
- {{Official website}}
- {{Handbook of Texas|id=dnr01|name=RadioShack Corporation}}
- [http://www.fortworthtexasarchives.org/digital/collection/p16084coll44/id/0/rec/1 Radio Shack Records] in Fort Worth Library Archives
- [http://www.radioshackcatalogs.com/ Radioshackcatalogs.com], an 80-year archive of RadioShack catalogs, plus other corporate publications and historic photos
{{RadioShack}}
{{SoftBank}}
{{Authority control}}
Category:1921 establishments in Massachusetts
Category:Companies based in Fort Worth, Texas
Category:Companies formerly listed on the New York Stock Exchange
Category:Companies that filed for Chapter 11 bankruptcy in 2015
Category:Companies that filed for Chapter 11 bankruptcy in 2017
Category:Consumer electronics retailers of the United States
Category:Electronic kit manufacturers
Category:Home computer hardware companies
Category:Loudspeaker manufacturers
Category:American companies established in 1921
Category:Retail companies established in 1921