MA Awaits A Possible Return Of Radio Shack Stores

When I first came to Great Barrington, one of my favorite places to do some shopping was at the local Radio Shack located at The Price Chopper Plaza. Years later, when the electronics giant shut down, it was very upsetting in more ways than one. It totally reminded me of the days I used to shop at this establishment during my days in the ol' hometown of NYC and when living in upstate New York.

(Photo of Radio Shack marquis courtesy of www.wsbs.com/files)

The store was a mecca for media and electronics enthusiasts as it first opened back in 1921 as they began as a small supplier of ham radio equipment,  eventually moving into the realm of high fidelity stereo equipment where they enjoyed success during their hey-day.

(Photo of AM/FM stereo receiver courtesy of James Krudop on Unsplash)

It seems like the beloved 80s retailer, once on the brink of extinction, is staging a remarkable comeback under new ownership. Radio Shack, an US-based franchise of electronics retail stores, endured multiple bankruptcies. And even though the brand closed down thousands of its stores, they never completely disappeared. Statistics show there are 516 stores that remain open nationwide, but sadly you won't find any here in our tri-state region.

(Photo of $100 bills courtesy of hynci)

Why did many stores shut down? The answer is that Radio Shack failed to adapt and stay relevant when most electronics sales shifted online, and the retailer was stuck in brick-and-mortar locations only. It seems like the company had a plethora of locations that cannibalized from each other and the end result from this action was a massive amount of financial losses.

(Photo of bankruptcy petition courtesy of Minerva Studio)

According to court documents, they recently filed for Chapter 11 bankruptcy protection to protect any further financial setbacks after they announced they were over one million dollars in debt.

(Photo of Radio Shack associate and customer courtesy of Yeek via YouTube)

The Tandy company owned Radio Shack for decades and now it's new owners, Unicomer Group, a multinational retailing and consumer finance group headquartered in San Salvador, El Salvador has been brainstorming on ideas on how to bring the company back to it's iconic status it once enjoyed way back when. They also have offices in the United States as their main loation is based in Miami, Florida.

(Photo of on-line computer courtesy of Thinkstock)

Their online sales operation was purchased by Retail Ecommerce Ventures, a Florida-based company that had previously purchased defunct retailers. While specific details  have not been revealed, the brand is expected to leverage its nostalgic appeal and iconic products to reconnect with its loyal customer base and attract a fresh wave of shoppers.

(Photo image of Radio Shack marquee courtesy of www.wsbs.com/files)

This is probably the BEST news I have heard in a while as I am a "living in the past guy" and a part of my younger days is planning a coming back. The thought of some stores reopening is a sign of optimism for electronics enthusiasts. It is welcome news for ALL who are looking to browse at their favorite electronics stores. I know I'll be one of the first in line with my shopping list in hand.

BOTTOM LINE: Stand by as we'll keep you posted on the latest developments.

(Some information obtained in this article courtesy of www.google.com)