Radio Shack plans on closing 500 stores nationwide
PITTSFIELD -- Radio Shack, which has five outlets in the Berkshires, is planning to close around 500 stores nationwide over the next few months, according to the Wall Street Journal.
The Texas-based retail chain currently operates around 4,500 stores across the country, but has not released the names of any outlets it plans to close, or when the closures would occur.
The Wall Street Journal cited "people familiar with the matter" as the source for its information.
In the Berkshires, Radio Shack operates stores in Great Barrington, Lanes-
borough, Lenox, North Adams and Pittsfield.
According to the Wall Street Journal, Radio Shack has begun to change its image from an "old-school electronics store into a destination for entertainment gadgets like headphones and smartphone cases."
In October, the national retail chain secured $835 million in loans to refinance some $625 million in debt.
The company has "struggled" to reverse a string of losses deepened by a sale strategy that was focused around smartphones, but failed to improve revenue over the last two years, according to the Wall Street Journal.
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