From the WSJ:
Like many, I'm amazed it took so long. One of my favorites from The Onion: Even CEO Can't Figure Out How Radio Shack Still in Business (from 2007!)RadioShack Prepares Bankruptcy Filing
Struggling consumer electronics retailer RadioShack is preparing to file for bankruptcy protection as soon as next month.
The Fort Worth, Texas, company is in talks with a private-equity firm that could buy its assets out of bankruptcy, but the talks may not produce a deal, and the company may opt to pursue other debt-restructuring options that don't include a sale.
Hopefully they emerge and something sustainable results.FORT WORTH, TX—Despite having been on the job for nine months, RadioShack CEO Julian Day said Monday that he still has "no idea" how the home electronics store manages to stay open.
"There must be some sort of business model that enables this company to make money, but I'll be damned if I know what it is," Day said. "You wouldn't think that people still buy enough strobe lights and extension cords to support an entire nationwide chain, but I guess they must, or I wouldn't have this desk to sit behind all day."
. . .
One of Day's theories about RadioShack's continued solvency involves wedding DJs, emergency cord replacement, and off-brand wireless telephones. Another theory entails countless RadioShack gift cards that sit unredeemed in their recipients' wallets. Day has even conjectured that the store is "still coasting on" an enormous fortune made from remote-control toy cars in the mid-1970s.
. . .
"I once went into a RadioShack location incognito in order to gauge customer service," Day said. "It was about as inviting as a visit to the DMV. For the life of me, I couldn't see anything I wanted to buy. . . "
Last edited: