RadioShack is a leading national retailer of innovative technology products and services, as well as products related to personal and home technology and power supply needs. RadioShack offers consumers products and services from leading national brands, exclusive private brands and major wireless carriers, all within a comfortable and convenient shopping environment. With a refined product mix, enhanced in-store experience and expert associates, RadioShack is the neighborhood technology resource, equipping consumers with the right product and know-how based on their needs.
Affiliate Acquires 1,743 RadioShack Stores
FORT WORTH, Texas and NEW YORK, April 2, 2015 /PRNewswire/ --
General Wireless Inc., an affiliate of Standard General LP (together
with its affiliates, "Standard General") announced
today that General Wireless has received U.S. Bankruptcy Court
approval to acquire the inventory and assume leases of 1,743
RadioShack stores following an auction conducted under Section
363 of the U.S. Bankruptcy Code.
Sprint to More than Double Company-Owned Stores with April 10th Opening of Co-branded RadioShack Retail Locations
Company Expects to Create Nearly 3,500 Jobs Nationwide
OVERLAND PARK, Kan. (BUSINESS WIRE), April 09, 2015 - Tomorrow Sprint (NYSE: S) will more than double its company-owned retail footprint by opening 1,435 Sprint-RadioShack stores. The expansion will immediately give more customers across the country improved access to Sprint’s unique and industry-exclusive leasing programs, unlimited plans and Boost and Virgin Mobile prepaid offerings.
With the new RadioShack store network, recently acquired by General Wireless, Sprint is further investing in communities across the country, and beginning the process to:
“Our new products and services are resonating with customers – they’re coming to our stores to switch to Sprint through our Cut Your Bill in Half offer, take advantage of our industry-first leasing plans, and shop for new devices,” said Sprint CEO Marcelo Claure. “Customers value the ability to walk into a neighborhood Sprint store near where they live and work. With more stores, and including Boost and Virgin Mobile, we’re providing additional shopping opportunities and making it easier and more convenient for consumers to do business with us.”
“Sprint now has many more storefronts to sell wireless devices from and that is very important to the growth of its business,” said industry analyst Jeff Kagan. “It gives them the ability to reach more customers, more quickly, from coast to coast.”
The expansion of Sprint’s retail stores also means significant opportunities for the company to invest in local communities by adding nearly 3,500 new jobs. In the coming months, Sprint will actively recruit a skilled workforce to fill quality full- and part-time positions, helping to make local communities stronger.
In last week’s transaction, General Wireless Inc., an affiliate of Standard General LP, acquired 1,743 RadioShack stores. Sprint has agreed with Standard General to be co-tenants in 1,435 of those stores, with Sprint being the primary brand in marketing materials and signage. Sprint will occupy roughly one third of the retail space at these existing RadioShack locations. Through the end of this year, Sprint will work closely with General Wireless to build out its “store-within-a-store” retail model.
“This important partnership with Sprint has enabled RadioShack to continue to provide a trusted destination for our millions of loyal consumers,” said Ron Garriques, RadioShack CEO. “Together, we can preserve jobs and an iconic American company specializing in mobility, connectivity and innovation. This arrangement is truly a win-win, giving Sprint a much larger footprint and providing both companies immediate access to each other's customers.”
All 1,435 Sprint-RadioShack stores will be open tomorrow and offer devices and services from Sprint, Boost Mobile and Virgin Mobile. For more information or to find a Sprint store, please visit Sprint’s store locator.
Sprint (NYSE: S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. Sprint served nearly 56 million connections as of December 31, 2014 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading no-contract brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Sprint has been named to the Dow Jones Sustainability Index (DJSI) North America for the past four years. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.