Radio Shack Closings: 4 Rhode Island Locations Shuttering

Radio Shack, the gadget and electronic parts retailer, is closing hundreds of stores during the next two weeks, including four Rhode Island locations, many of which are in the process of holding “everything must go” sales. 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.

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Here is a look at the four Rhode Island locations closing, according to Business Insider:

1. 5949 Post Road, 5949 Post Road
2. 266 Bellevue Ave, Newport
3. Cranston Shopping Parkade, 232 Garfield Ave, Cranston
4. Ocean State Plaza, 355 Reservoir Ave, Providence

Story by Tony Schinella, Patch staff
AP Photo/John Raoux