While the twice-bankrupt electronics chain didn’t totally disappear from the retail landscape, it will soon reestablish a more significant footprint across the country, The NYPost is reporting.
The hobbled 97-year-old chain has signed a deal with HobbyTown USA to open “express stores” inside 50 of its partner’s stores, both companies said Friday.
The deal was signed this week, and potentially, the express stores could be opened in up to 100 of HobbyTown’s 140 stores. If successful, they could expand to all the hobby chain’s locations.
The first express stores will open next week.
RadioShack emerged from Chapter 11 reorganization in January with 400 stores — most of them in rural locations. The HobbyTown deal will bring the stores to more suburban towns.
“This will expand their footprint quickly,” HobbyTown President Bob Wilke told The Post, adding that “Radio Shack’s merchandise and customers complement ours.”
HobbyTown is purchasing the RadioShack merchandise and offering it to its hobbyist customers who need the tools, wires and other accessories that RadioShack makes.
While the HobbyTown deal will bring RadioShack to a much larger audience, it will still pale compared with the more than 7,000 stores the chain had at its peak in 1987.
It operated more than 1,700 stores as recently as last year when it filed for Chapter 11.
No comments:
Post a Comment