Business Columns & Blogs

Bits of Business: Radioshack bankruptcy hits home

RadioShack recently agreed to sell between 1,500 and 2,400 of its company-owned stores to General Wireless Inc., an affiliate of Standard General L.P.

To effectuate the sale, RadioShack filed for bankruptcy.

The move means that three local RadioShacks will close. RadioShacks at North Atherton Place, Nittany Mall and Millbrook Marsh Plaza are on a list for potential closures, but two Altoona stores are not.

“I haven’t been officially notified that it is closing,” Welch said of the Nittany Mall location. “It’s an example of another national company struggling, but it doesn’t mean we are struggling. We aren’t struggling, and we have a lot of new things coming.”

RadioShack employees, who declined to be identified, said they had not been informed of closing dates.

“I think some stores will close by the end of February, because there is so little stock left,” one female employee said.