HobbyTown sells specialty toys. The company said the partnership "will enhance the product selection and services" at its locations. It's been quite a ride for RadioShack over the past three years. The company first filed for bankruptcy in , when General Wireless acquired the company. Use precise geolocation data. Select personalised content. Create a personalised content profile. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights.
Measure content performance. Develop and improve products. List of Partners vendors. The company had too many stores that cannibalized revenues from each other and generated losses. RadioShack failed to adapt and stay relevant when most electronics sales shifted online, and the retailer was stuck in brick-and-mortar locations only.
The company frequently changed its management and direction for the turnaround. In addition, RadioShack made a financial mistake by taking a loan from Salus Capital in that required the lender to close no more than stores a year. In , RadioShack operated about 4, stores in North America. However, there were many stores that were located too close to each other. For example, there were 25 stores near Sacramento, California, located within a mile radius, and seven stores within five miles around Brooklawn, New Jersey.
With so many stores within close proximity to each other, RadioShack experienced a significant drop in profitability and inventory problems as the store traffic dried up. It became very costly to maintain so many stores with sometimes insufficient inventory in one area. Relying solely on its brick-and-mortar sales network, RadioShack began experiencing significant profitability and sales pressure, as consumers were buying electronics parts and other gadgets from online retailers such as Amazon and eBay.
Yet Mehr doesn't look at Amazon as a competitor. Rather, he said, it's another channel where RadioShack can sell its products. So this is yet another distribution channel for us. The former owners have retained a minority stake, betting on the social media marketing expertise of Mehr and Lopez. The new owners say they hope to have RadioShack. About RadioShack locations remain open, but operate independently from the REV-owned parent company. We'll notify you here with news about.
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