RadioShack, as of late, has had a lot on their plate as they are in court filing bankruptcy. This has not been too much of a surprise to corporate America as other companies that offer the same services online for much cheaper rates have invaded the tech and cable supply world. With faster shipping than ever before and the ability to have a wide range of products with very little inventory, it’s no wonder that RadioShack has found themselves shutting down their stores.
RadioShack was just barely able to escape liquidation and now Soohyung Kim, a financier, is busy at work, trying to resurrect a dying company with an ever evolving culture. Mr. Kim’s his new plan seems to be fairly promising though. He is proposing to close most of the stores that are located in large cities and keep open the RadioShacks that are located in small towns, where their sales are still high. For those stores that remain open in larger cities, the current plan is to be rid of all of the cables, phones, laptops and toys and instead focus on selling their trending products such as cell phone chargers, hearing aid batteries, and other things that travelers may have found themselves in need of while away from an address to send a shipment to or in case of an urgent purchase, such as needing a phone changer.
It’s time for a new day. We’re here today because we know this can work.
Still, many are skeptic that these changes will save the RadioShack business. Sprint has teamed up with them and plans of taking 60% of their floor space with their own products. This partnership with Sprint has RadioShack hoping for more traffic through their soon-to-be smaller stores across the country. The question really come down to whether or not the country will even miss RadioShack if they were to liquidate and disappear. this could also be threatening other retail stores, who are now realizing that internet shopping has become the new way to receive products. One of the first industries to throw in the towel for were book stores over the last five years, who either had to redefine themselves as internet based businesses, or completely liquidate and fade away. What will happen to RadioShack? Will anyone really miss the store if it disappears?
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