“When they converted me to a clearance store, I knew that was a death knell,” said one manager whose store shuttered on Sunday. “I feel the company has been mismanaged for at least the last decade.”
The company’s network of nearly 5,000 stores was once the center of its business strategy to be within minutes of 90% of the nation’s consumers. Now it is an albatross it can no longer afford in an age when consumers can find any item they need online.
RadioShack employees wonder: What’s next?
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RadioShack was delisted this week by the New York Stock Exchange after it failed to present a business plan to the exchange explaining how it would recover from the 90% plunge in share price during the last year. And Salus Capital, one of its major lenders, notified the company it is in default of the financial lifeline it had to stay in business.
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