RadioShack is a national retailer of specialty home technology products. RadioShack offers consumers a targeted assortment of wireless phones and other electronic products and services from leading national brands, exclusive private brands and major wireless carriers, all within a comfortable and convenient shopping environment.
The company filed for Chapter 11 bankruptcy in February 2015 due to years of declining sales. It plans to close 1,750 stores in the U.S. over the next several months.
RadioShack has signed an asset purchase agreement with General Wireless Inc., an affiliate of hedge fund Standard General L.P. ("Standard General"). General Wireless has agreed to acquire between 1,500 and 2,400 of RadioShack's remaining U.S. Company-owned stores.
The company's retail network once included 4,000 company-operated stores in the United States. Its more than 1,000 dealer franchise stores in 25 countries, the stores operated by its Mexican subsidiary, and its Asia operations are not included in the Chapter 11 filing.
Up to 1,750 remaining RadioShack stores will include a Sprint store-in-a-store section via an agreement with the wireless phone company.
The average RadioShack store is located in a strip mall in a suburban market with over 500,000 people. The typical store isn't very big with just 2,500 square feet of space.
The company began in 1919 as a family leather business in Fort Worth, TX by two friends, Norton Hinckley and Dave L. Tandy (1889-1966). During their visit, these ambitious young fellows decided to pool their resources and go into business together. Their venture, which the two gentlemen named the Hinckley-Tandy Leather Company, sold leather shoe parts (soles, heels and shoelaces) to shoe repair shops in the Fort Worth area.
In 1921, two brothers Theodore and Milton Deutschmann, opened a one-store retail and mail-order operation in the heart of downtown Boston. They chose the name, "RadioShack," which was a term for the 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 "ham" radio operators.
Charles Tandy, son of Dave, bought the RadioShack chain in 1963 as part of Tandy Leather. In 1975, Tandy Corporation would focus on electronics as the rest of the businesses were spun off.
Sales at RadioShack would soar during the 1970s on the popularity of CB radios and introduction of the first mass-produced personal computer, the TRS-80.
In 2000, the company's name was changed from Tandy Corp. to RadioShack to focus on a single name.
Benefits offered include:
- Paid vacation and holidays
Updated February 8, 2015