Radio shack going out of business locations

#RADIO SHACK GOING OUT OF BUSINESS LOCATIONS TV#

You already have your own DIY web site, you make the scene at Maker Faire and science competitions and you're already sponsoring something called the East vs. YouР В Р вЂ Р В РІР‚С™Р Р†РІР‚С›РЎС›re already hip to the Maker movement, and have been all along since the first store opened in 1921.

Become shop class for school districts that are cutting shop class. Why not spend a little bit of money outfitting stores with great tinkering equipment, gross the same amount of money and generate higher return on assets? Radio Shack, you're grossing roughly $900,000 per location and generating negative net cash flow. When the location in Detroit opened up in May, it offered 2,000 discounted memberships toР В РІР‚СњР В РІР‚РЋord Motor employees. Hatch expects to pass $5 million in revenue this year, up from $2 million last year.

Its three locations in the Bay Area (and two outside of it) serve 3,300 members. Some even have automotive bays for restoring engines and cars. His places are packed with fabrication machinery, sandblasting and woodworking equipment, lathes, laser cutters and sewing machines. ItР В Р вЂ Р В РІР‚С™Р Р†РІР‚С›РЎС›s a retail concept founded in 2006 by Mark Hatch, a former Green Beret with an M.B.A from the Drucker School at Claremont Graduate University. ItР В Р вЂ Р В РІР‚С™Р Р†РІР‚С›РЎС›s time to get out of all the leases of the smallest locations (at some point having 7,300-plus locations is more liability than asset, no?) and narrow down to just your biggest locations. It also means, for those of us over a certain age, a place you used to go to get the parts we needed to build cool electronics projects like door buzzers, motion-sensing LED lights and robot walkers. Does it mean Р В Р вЂ Р В РІР‚С™Р РЋРЎв„ўplace I go to ask questions and solve problems about confusing electronics?Р В Р вЂ Р В РІР‚С™Р РЋРЎС™ Why yes it does. Does it really mean Р В Р вЂ Р В РІР‚С™Р РЋРЎв„ўfifth place I think of when I think about where I can get an iPhoneР В Р вЂ Р В РІР‚С™Р РЋРЎС™? Um, no.

Think about what else you can do with your space.

#RADIO SHACK GOING OUT OF BUSINESS LOCATIONS TV#

Customers would also come in all the time to 'rent' TV cables, rushing out to the Shack to buy a $30 HDMI cable they forgot didn't come with their TV and returning it a week or two later after getting one for $3 online. According to one former Shack store employee, any time a low margin TV, mobile phones, or laptop was sold without an attached accessory, district management would come down pretty hard on the store managers. Selling electronics is just a lousy business where margins are only made by forcing things on customers they don't even want. Target lacked the higher-margin accessory sales and in your main stores you're up against an aggressive competitor in Best Buy. Posing as a one-stop shop for all mobile plans isnР В Р вЂ Р В РІР‚С™Р Р†РІР‚С›РЎС›t working, anyway. The company has been getting by on a $535 million loan from hedge fund Standard General LP. The Shack had an operating cash loss of $293 million in the 10 months leading up to its last SEC filing in November. Its shares trade for 25 cents (they were at $30 seven years ago) and are down 90% in the past 12 months and its market cap is down to $25 million.

The negotiations are still up in the air, but Radio Shack is negotiating from a position one couldn't exactly call strength. and close the rest of them as part of a bankruptcy deal, according toР В РІР‚в„ўР вЂ™Р’В people in on theР В РІР‚в„ўР вЂ™Р’В discussions.Р В РІР‚в„ўР вЂ™Р’В The news service said the stores being sold mayР В РІР‚в„ўР вЂ™Р’В become Sprint-branded stores, meaning the Radio Shack brand wouldР В РІР‚в„ўР вЂ™Р’В go the way of the carrier pigeon. Bloomberg is reporting that the Shack is getting ready to sell half its 5,000+ stores to Sprint Corp. News just hit the wire that 90-year-old retailer RadioShack may be finally down for the count.

Radio shack going out of business locations