❗Let's close the gap: We still need your help to raise $40,000 by April 1. Donate now

RadioShack’s long road to bankruptcy

Kai Ryssdal Feb 3, 2015
HTML EMBED:
COPY

RadioShack’s long road to bankruptcy

Kai Ryssdal Feb 3, 2015
HTML EMBED:
COPY

RadioShack is preparing to shut down amid bankruptcy.  The chain has over 4,000 U.S. stores, but they have been struggling for quite some time. Things finally came to a head as the ‘Shack lost about 90 percent of its value over the past year, and shares sunk Monday.

“One of the most common sentiments I heard when I first started making phone calls for this story was ‘I can’t believe it’s taken this long for this to happen to RadioShack,'” says Josh Brustein of Bloomberg.

Sprint and Amazon have separately been in talks with RadioShack about acquiring some stores and closing the rest.

“For the last couple of months, RadioShack has really been kind of circling the drain,” says Brustein. “It’s been clear that the most likely outcome was bankruptcy – that doesn’t mean that it would disappear altogether. But basically, what has to be sorted out in bankruptcy is what happens to all these stores.”

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.