WARSAW — While the front of the store is plastered with sale signs and giant “Store Closing” banner, RadioShack’s future is still unknown.
General Wireless, successor to the defunct RadioShack, filed bankruptcy on March 8 after weeks of speculation. It is the company’s second bankruptcy in two years, the first filed Feb. 5, 2015.
On March 31, 2015, American hedge fund Standard General’s affiliate General Wireless was granted a $160 million contract and gained ownership of 1,743 RadioShack locations. As part of the deal, the company entered into a partnership with Sprint, including its wireless brands Boost and Virgin Mobile.
With General Wireless filing bankruptcy, Sprint denied renewing a contract with the company. Roughly 400 RadioShack stores were closed and the remaining 1,300 are to be reevaluated. As of March 27, Sprint has abandoned the Warsaw RadioShack store, located in front of Walmart at 2532 Walton Blvd.
A press release from Sprint states, “[Sprint] evaluated the performance and location of Sprint-RadioShack stores and reached an agreement with General Wireless Operations to convert several hundred stores into Sprint corporate-owned stores.”
According to a current employee who wanted to be referred to as Elijah Jones, the Warsaw RadioShack won’t know if they are closing until General Wireless management talks to creditors later in April.
With Warsaw Sprint-RadioShack employees already transferred to another store, a “For Rent” sign may soon be in the window.