On this page you can get a detailed analysis of a word or phrase, produced by the best artificial intelligence technology to date:
RadioShack, formerly RadioShack Corporation, is an American retailer founded in 1921.
At its peak in 1999, Tandy Corporation operated over 8,000 worldwide stores named Radio Shack or Tandy Electronics in the United States, Mexico, the United Kingdom, Australia, and Canada. Outside of those territories, the company licensed other companies to use the RadioShack brand name in parts of Asia, North Africa, and the Americas.
In February 2015, RadioShack Corporation filed for Chapter 11 protection under United States bankruptcy law after 11 consecutive quarterly losses. At the time, it was operating only in the United States and Latin America.
In May 2015, General Wireless Inc., an affiliate of Standard General, bought the company's assets, including the RadioShack brand name and related intellectual property, for US$26.2 million. General Wireless Operations Inc. was formed to operate the RadioShack stores, and General Wireless IP Holdings LLC was formed to hold the intellectual property. Mexico-based Grupo Gigante, through its subsidiary RadioShack de México, acquired the RadioShack brand within Mexico. El Salvador-based Unicomer Group acquired the RadioShack brand within the rest of Latin America and the Caribbean. Egypt-based Delta RS for Trading acquired the RadioShack brand within North Africa and the Middle East. General Wireless IP Holdings LLC retained rights to the RadioShack brand in all remaining territories.
In March 2017, General Wireless Inc. and subsidiaries filed for bankruptcy, claiming its Sprint partnership was not as profitable as expected, and announced plans to close most of their company-owned stores after Memorial Day Weekend in 2017, and to shift its business primarily to online.
In November 2020, Retail Ecommerce Ventures (REV), a holding company owned by Alex Mehr and his partner Tai Lopez, a controversial investment influencer, acquired RadioShack. RadioShack operates primarily as an e-commerce website, a network of independently owned, franchised RadioShack stores, and a supplier of parts for HobbyTown USA.
On March 2, 2023, Retail Ecommerce Ventures, RadioShack's current parent, announced that it was mulling a possible bankruptcy filing.