RadioShack closing three stores in SLO County
RadioShack recently announced three of its stores in San Luis Obispo County will close soon as part of the company’s March 8 bankruptcy filing.
Stores expected to close soon:
- Atascadero, 7379 El Camino Real
- Grover Beach, 1548 Grand Ave.
- San Luis Obispo, 481 Madonna Road
RadioShack.com, stores and dealer locations across the country are still currently open for business and serving customers; however, the company is closing approximately 200 stores and evaluating options on the remaining 1,300, according to a statement from RadioShack.
“For nearly 100 years, RadioShack has proudly served local communities across the United States, offering consumers unique, high-quality products at a great value,” said Dene Rogers, RadioShack’s>President and Chief Executive Officer. “Over the course of the past two years, our talented, dedicated team has worked relentlessly in an effort to revitalize the Company and the RadioShack brand, while providing outstanding service to our customers. We greatly appreciate their hard work and dedication.”
He continued, “Since emerging from bankruptcy two years ago as a privately owned company, our team has made progress in stabilizing operations and achieving profitability in the retail business, while our partner Sprint managed the mobility business. In 2016, we reduced operating expenses by 23%, while at the same time saw gross profit dollars increase 8%. Over the same time, we integrated FedEx pickup / drop-off into 140 RadioShack locations, delivered to customers over 700,000 Hulu login pins and sold more than a million RadioShack private brand headphones and speakers delivering high quality, value- based audio products to consumers across the country. However, for a number of reasons, most notably the surprisingly poor performance of mobility sales, especially over recent months, we have concluded that the Chapter 11 process represents the best path forward for the Company. We will continue to work with our advisors and stakeholders to preserve as many jobs as possible while maximizing value for our creditors.”
The RadioShack in Paso Robles and independent dealers in Morro Bay and Los Osos are not expected to close.