RadioShack named former U.S. Treasury Department adviser Harry Wilson as its chief revitalization officer, enlisting a turnaround expert who helped restructure General Motors and Chrysler. Wilson, founder of the advisory firm Maeva Group, will report to RadioShack's board and CEO Joe Magnacca, the Fort Worth, Texas-based company said in a statement. The struggling electronics chain, which received a rescue financing package earlier this month, cited Wilson's experience reviving U.S. automakers in the wake of the recession. He was a senior member of the Auto Task Force, which led the Treasury Department's role in revamping GM and Chrysler.
FORT WORTH, Texas
RadioShack, the struggling electronics retailer, was notified by the New York Stock Exchange that it's out of compliance with requirements because its stock has traded below $1 for 30 straight days. Under the exchange's rules, RadioShack has six months to get back into compliance by boosting its stock price to at least $1 on the last trading day of the month and having an average closing price at that level over a 30-day period, according to a statement yesterday. The risk of delisting adds to RadioShack's headaches as the retail chain attempts a turnaround.
RadioShack, which said in March it would close as many as 1,100 locations to cut costs, is proceeding with a plan to shut fewer stores because of a snag with its lender agreements. The company has been seeking consent from creditors to proceed with the full closure plan, though the terms being offered aren't acceptable, according to a regulatory filing yesterday. The Wall Street Journal reported last month that the impasse meant RadioShack could only close about 200 stores.
Fort Worth, Texas -- RadioShack will open its newest Fairfax, Va. location as a concept store on Dec. 14. The new store is the first concept store in this area. All concept stores in the company's...
RadioShack is giving shoppers the power to name their own deals with an interactive application on its e-commerce site where consumers can select the product and pricing, vote on and share the hot deals. On Nov. 27, consumers can redeem a limited number of coupon codes for "Name Your Deal" products at reduced prices. In addition, RadioShack has created holiday "Idea Centers" in its stores, featuring instructions cards for how to create some holiday fun using products from the surrounding shelves.
Fort Worth, Texas – RadioShack has pulled out all the stops for its new hometown location in Sundance Square in downtown Fort Worth, Texas, opening a retro-styled store that speaks to the heritage of...