The Real Deal Miami

RadioShack, Staples plan scores of store closings

March 11, 2017 09:15AM

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RadioShack store in Miami (Source: Yelp.com)

The parent company of RadioShack filed for bankruptcy and plans to close about 200 stores, and Staples Inc. announced plans to close about 70 stores.

Neither national retailer identified which stores will be closed.

Their websites show that RadioShack has 24 stores in Miami-Dade, Broward and Palm Beach counties, and Staples has 11 stores in tri-county South Florida.

RadioShack’s corporate company, General Wireless Operations Inc., filed for Chapter 11 bankruptcy on Wednesday in the U.S. Bankruptcy Court for the District of Delaware.

The company will close about 200 of its 1,500 RadioShack stores while evaluating options for the other 1,300 stores.

General Wireless, which acquired RadioShack in April 2015, plans to sell RadioShack store leases at auction and has retained A&G Realty Partners to assist.

Staples store in Miami

The privately held parent company also announced that a list of RadioShack store leases to be auctioned will be posted at www.agrealtypartners.com. The list hadn’t been posted as of 5:30 p.m. Saturday.

Staples announced plans to sell about 70 stores in a financial report for its fiscal fourth quarter, ended January 28. The retailer of office supplies and equipment reported a fourth-quarter loss of $615 million from continuing operations.

Staples said in a filing Thursday with the U.S. Securities and Exchange Commission that the 70 store closings planned this year would follow the closures of 48 stores in 2016 and 242 stores in 2015 and 2014 combined.

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