web1_WalterShapiro.jpg

Their view: Comey and the art of the shiv

web1_AP17080688429526.jpg

Jerry Krause, Bulls’ GM during 1990s dynasty, dies at 77

<p>The RadioShack location in Wilkes-Barre Township will soon close its doors.</p><p>An employee at the store, located at 2266 Wilkes Barre Township Marketplace, said its last business day is Sunday.</p><p>A recent court filing lists the 552 stores across the country to be closed by the troubled electronics retailer. The document also states the closures would affect 36 percent of the company&#8217;s stores.</p><p>According to the court filing, 187 stores will close immediately and 365 stores will close in early April.</p><p>Earlier this month, the retailer filed for bankruptcy for the second time in just over two years. The Fort Worth, Texas-based retailer filed its petition in bankruptcy court in Delaware on March 8.</p><p>The company originally said it would close about 200 stores and evaluate options on the remaining 1,300. Locally, RadioShack has locations in Edwardsville and Wilkes-Barre Township.</p><p>In a statement, RadioShack President and Chief Executive Officer Dene Rogers said since the company&#8217;s bankruptcy filing in 2015, the retailer had made progress in stabilizing operations, including reducing operating expenses by 23 percent.</p><p>But Rogers says several reasons, including a partnership with wireless carrier Sprint that proved not to be as profitable as expected, prompted the latest bankruptcy filing.</p><p>General Wireless, part of hedge fund Standard General, acquired the RadioShack trademark and many of its stores after its 2015 bankruptcy.</p><p>RadioShack was founded in 1921. Long known as the place to find batteries and obscure electronic parts, in recent years the company tried to remake itself as a specialist in wireless devices and accessories.</p><p>That strategy largely was stymied by the advent of smartphones.</p><p>RadioShack has tried to update its image but faces formidable competition from online and discount retailers.</p><style>
.neFileBlock {
	margin-bottom: 20px;
}
.neFileBlock p {
	margin: 0px 0px 0px 0px;
}
.neFileBlock .neFile {
	border-bottom: 1px dotted #aaa;
	padding-bottom: 5px;
	padding-top: 10px;
}
.neFileBlock .neCaption {
	font-size: 85%;
}
</style>
<div class='neFileBlock'>
<div class="neFile"><img class="neImage" src="https://www.timesleader.com/wp-content/uploads/2017/03/web1_115445000-5f880b5d73974760b21e824d5a4b9244-2.jpg">
<div class="neCaption">FILE - This Tuesday, Feb. 3, 2015 file photo shows a RadioShack store in Dallas. Troubled electronics retailer RadioShack has filed for bankruptcy for the second time in just over two years. The Fort Worth, Texas-based retailer filed its petition in bankruptcy court in Delaware on Wednesday, March 8, 2017. (AP Photo/Tony Gutierrez, File)</div></div><div class="metaInfo"><photo0>https://www.timesleader.com/wp-content/uploads/2017/03/web1_115445000-5f880b5d73974760b21e824d5a4b9244-2.jpg</photo0><caption0>FILE - This Tuesday, Feb. 3, 2015 file photo shows a RadioShack store in Dallas. Troubled electronics retailer RadioShack has filed for bankruptcy for the second time in just over two years. The Fort Worth, Texas-based retailer filed its petition in bankruptcy court in Delaware on Wednesday, March 8, 2017. (AP Photo/Tony Gutierrez, File)</caption0><photoCredit0></photoCredit0></div></div>
<div class="metaInfo"><bylineMeta><p>Staff reports</p></bylineMeta></div><div class="metaInfo"><shirttailMeta><p>The Associated Press contributed to this report.</p></shirttailMeta></div>

Wilkes-Barre Twp. RadioShack to close after company files for bankruptcy