While RadioShack Corp has already closed hundreds of its retail stores due to its bankruptcy filed in February, approximately 1,700 of them will remain in operation co-branded with Sprint Corp. as a result of its acquisition by its biggest shareholder, Standard General LP for about $145.5 million. The stores employ more than 7,000 people. Approximately 160 stores were previously sold to Sprint Mobile, a unit of GameStop Corp., and will be rebranded.
Radio Shack entered bankruptcy in February with more than 4,000 stores, $1.2 billion in assets and almost $1.4 billion in debt. Four stores remain within five miles of Falls Church (locations in McLean, Arlington, Annandale, Baileys Crossroads.)
A final determination about which stores will remain open has not yet been announced. For more information, visit radioshack.com.
