Radio Shack Closing Richboro Store

Radio Shack, the gadget and electronic parts retailer, is closing hundreds of stores over the coming weeks, including its store in Richboro. The local store is one of 17 Radio Shack stores set to close in Pennsylvania.

More than 550 stores across the country — more than a third — are closing this month after the company filed for bankruptcy for a second time, according to BusinessInsider.com.

Nearly 190 stores will close immediately and another 365 will close by April. Another 1,000 stores will remain on an evaluation list to see if they remain viable. The report noted that the stores that were closing “reflected the lowest sales velocity and highest rent” within the company.

The announcement comes just two years after the company closed around 1,800 stores in a restructuring effort after posting hundreds of millions of dollars in losses. The company closed more than 1,000 stores in 2014 after posting sales losses in 2012 and 2013.

At that time, the company had around 4,300 stores.