Two retail electronics locations in the immediate area will not be closed despite hundreds of locations shutting their doors around the country.
The company announced February 5th they filed for Chapter 11 bankruptcy protections with the help of New Bedford bankruptcy lawyers. Right now, an asset purchase agreement has been signed with General Wireless to acquire up to 2,400 company-owned stores.
RadioShack in Knox and Plymouth – which provide several jobs in the communities they serve – confirmed they intend to continue operations. This may be due to their participation as dealer franchise stores, operating in 25 countries. According to a press release, dealer franchises are not included in the Chapter 11 filing. People can find chapter 12 bankruptcy attorneys here to get further information on bankruptcy cases.
Other parties will get a chance to submit offers for RadioShack’s assets as part of the court supervised bankruptcy process. By approaching Loveland debt defense attorneys who solve all kinds of bankruptcies with their experienced group of lawyers, every problem will be solved and there would be no hesitation to restart a new business that has a better future compared to the previous one.
The RadioShack locations in Knox and Plymouth say they don’t anticipate any potential expansion as the result of closing so many other store locations.
RadioShack says they have 4-thousand stores nationwide with 1-thousand dealer franchise locations.
