Three local RadioShacks have powered down for good as the bankrupt retailer continues to liquidate approximately 1,740 stores nationwide.
The stores at Chatham Plaza on Abercorn Street, Oglethorpe Mall and Westside Shopping Center on U.S. 80 were among the stores being cut in the first wave of the retailer’s Chapter 11 bankruptcy.
The RadioShack at 2110 E. Victory Drive will remain open, for now at least, according to the store’s employees.
RadioShack filed for bankruptcy in early February after years of battered sales in an altered landscape for electronic goods.
One of RadioShack’s creditors, Salus Capital Partners, is battling another buyer in a Delaware bankruptcy court where the Fort Worth, Texas-based chain is being auctioned off.
RadioShack initially chose a $160 million bid from hedge fund Standard General, which was supposed to allow the shuttered stores to remain open and 7,500 jobs to be spared.
Salus has argued in court that its offer is a better bid but does not include provisions to keep stores open.
Going into bankruptcy, RadioShack had a little more than 4,000 stores nationwide.
The company was founded in 1921, providing equipment for ham radio enthusiasts, but became obsolete over time as digital technologies outpaced the retailer’s offerings.
