Radio Shack to Close 500 Stores
It’s an Obama world…
Radio Shack to close about 500 stores within months according to the Wall Street Journal.
MSM Money reported:
U.S. electronics chain RadioShack Corp is planning to close about 500 stores within months, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.
The struggling retailer, which is due to report results for the fourth quarter later this month, said it could not comment on rumor or speculation.
RadioShack has been working with bankers from Peter J Solomon Co to boost its liquidity and with AlixPartners on its operational turnaround.
Its sales have been in free-fall amid executive departures, strong competition and an image problem.
Meanwhile, Dell Computers will layoff around 2,000 employees are about 2% of its work force.