Business & Tech
Joliet RadioShack to Close
Electronics retailer files for bankruptcy, closing underperforming stores.
After more than 90 years in business, RadioShack on Thursday announced it has filed for bankruptcy and announced a list of store closings, including its store at 1351 Larkin Ave. in Joliet.
The company, founded in 1921, also noted that a deal is in the works to sell between 1,500 and 2,400 of its stores to General Wireless Inc.,and Sprint. RadioShack currently has about 4,000 stores in the U.S.
“Stores that are closing are expected to sell remaining inventory,” the company said in a press release.
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“These steps are the culmination of a thorough process intended to drive maximum value for our stakeholders,” RadioShack CEO Joe Magnacca said.
Other Illinois stores set to close include locations in Bolingbrook, Naperville, Oak Lawn, Lombard, Chicago and Downers Grove.
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