RadioShack closing 552 stores
All remaining RadioShack stores in the midstate appear to be safe, at least for now, as they are not among the 552 stores that the struggling electronics retailer is planning to close as part of its latest bankruptcy restructuring.
The chain, which filed for bankruptcy protection two years ago, has struggled to regain its financial footing in the consumer electronics industry. RadioShack's parent company, General Wireless Operations Inc., filed earlier this month under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.
The company said that it would liquidate 187 stores between March 13 and March 28. Those stores were deemed the ones with the "lowest sales velocity and highest rent."
An additional 365 stores were put on a secondary list and will close by April 4.
Of the 552 stores closing, 17 are in Pennsylvania. Most of those stores are in the Pittsburgh and Philadelphia areas. Business Insider published the full list of closings.
There are nine stores in Central Pennsylvania that were not listed among the stores closing. There are about 1,000 RadioShack stores left nationwide.
Many RadioShack stores house a Sprint store as General Wireless is a joint venture of hedge fund Standard General and Sprint. The companies teamed up during the last RadioShack bankruptcy in 2015.
At the time of the most recent bankruptcy filing, Sprint announced that it would convert "several hundred" RadioShack stores into corporate-owned Sprint stores, so many locations will live on.