Business & Tech
Downers Grove 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 220 Ogeden Ave. in Downers Grove.
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.
Find out what's happening in Woodridgefor free with the latest updates from Patch.
“Stores that are closing are expected to sell remaining inventory,” the company said in a press release.
“These steps are the culmination of a thorough process intended to drive maximum value for our stakeholders,” RadioShack CEO Joe Magnacca said.
Find out what's happening in Woodridgefor free with the latest updates from Patch.
Other Illinois stores set to close include locations in Bolingbrook, Naperville, Oak Lawn, Lombard, Chicago and Joliet.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
