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. 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.
Other parties will get a chance to submit offers for RadioShack’s assets as part of the court supervised bankruptcy process.
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.