RadioShack closing its doors

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FLASH STAFF REPORT

STEPHENVILLE (April 6, 2017) – Electronics retailer RadioShack, based in Fort Worth with a retail location in Stephenville, has filed for bankruptcy for the second time in two years.

The Stephenville location is one of more than 550 stores across the country that are shuttering. These closures will affect approximately 36 percent of the chain’s 1,943 stores and about 1,850 of the company’s 5,900 employees are expected to be affected by the closures.

In a Chapter 11 reorganization petition filed in Bankruptcy Court stated these stores have the “lowest sales velocity and highest rent.” The company said it will “continue to evaluate” the fate of its remaining 1,000 stores.

The closures have happened in two waves, with 187 closing in March and another 365 closing by the first week of April.

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