Radio Shack filed for Chapter 11 Bankruptcy on February 5th, 2015, and have since announced that they are closing somewhere between 1750 and 2100 stores, depending on which source you read. Radio Shack has wasted no time starting the liquidation process either.
I have only visited two stores so far, and a manager I talked to has said this is happening to all the closing stores as far as he was aware. In other words, according to that manager, if a store near you is closing, they have probably already entered liquidation process.
Not every Radio Shack store is shutting down. There are about 1750 stores that will remain after this liquidation event, but their future is uncertain. Radio Shack posted a PDF list on its website of the stores that are closing. That list doesn’t seem to be organized for the benefit of the consumer, but luckily Quartz and CNN Money posted more useful lists that are organized in alphabetical order by state and then city.
If you are interested in purchasing steeply discounted tools or supplies from Radio Shack, I wouldn’t wait. When I walked into one of my local Radio Shack locations, I was surprised to find it half empty with all prices discounted 30-60%. I visited a second local store, this one mostly empty, and found that were already offering a 50-80% discount.
This discount applies to everything in the store, including tools, electronics kits, cables, batteries, and
radio equipment. They are even selling the “fixtures, furniture, and equipment.” I was not impressed at the prices they were asking for those though, maybe you’ll have better luck.
This speed of this liquidation took me by surprise, but Radio Shack was apparently already in the process of liquidating before they announced the closures. The store manager I talked to said they’ve been having a series of clearance events starting with a “House Cleaning” sale around January 1st, but he only just recently found out that they were closing his store.
From my talk with the manager, I found out there are two type of stores: A and B. A stores close next Sunday and are the ones with the higher discounts. B stores close at a later date and have the less progressive discounts. I’m not sure if A and B correspond to standalone stores vs. mall stores or some other criteria.
I know not all Radio Shack stores are closing, but this is a sad day for me. While other kids my age were browsing the music store, I spent hours browsing in Radio Shack. It played a large part in getting me interested in electronics and ultimately becoming an electrical engineer.
More Info (article via WSJ)
More Info (store closing PDF)
Store Closing Lists (Alphabetical Order): Quartz . CNN Money
Did you score a great deal at your local Radio Shack? Let us know!