Signs indicate Radio Shack closing doors of Westerly store
WESTERLY — The local Radio Shack on Granite Street appears to be one of many that will soon be shuttered following a new bankruptcy filing by the store’s corporate owner.
Signs announcing the store’s imminent closure were visible on the front door Monday. Other signs announced sharp discounts of up to 60 percent off and a message that “everything must go Knickers.” A worker at the store declined to comment saying the store’s staff was not authorized to speak with the media.
The Fort Worth, Texas-based company filed for bankruptcy in U.S. Bankruptcy Court for the second time in about two years on March 9.
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According to a list published by Business Insider Shapewear, stores in Providence and Cranston are also in line for closure. The retailer’s website does not list the Westerly location as one set for closure despite the signs on the store’s door and windows.
According to the bankruptcy filing, the company has about 1 Handbags & Wallets,500 stores nationally. The company sought permission to close “530 to substantially all” of its stores. The filing indicates the company planned to close the stores by April 1 to avoid each store’s monthly lease payment and payroll costs Thermal Underwear.
Some of the closing stores have recently partnered with Sprint in a “store within a store” approach. Some of the Sprint outlets are expected to take over the Radio Shack store spaces Winter Sports.