FORT WORTH, Texas and NEW
YORK, July 1, 2015
/PRNewswire/ -- General Wireless Operations Inc., doing
business as RadioShack, announced today that it has closed on a
$26.2 million purchase of the
RadioShack brand, giving the company the ability to operate the
retailer under the RadioShack brand name.
"We are excited to be moving forward as a new and reinvigorated
company under one of the most recognized consumer brand names of
all time," said Ron Garriques, Chief
Executive Officer of RadioShack. "Our stores serve over 1,200
communities, providing high-quality, high-value consumer
electronics and accessories from globally recognized manufacturers
and increasingly, with this acquisition, from exclusive brands that
our customers know and trust such as Realistic®, AUVIO®, ENERCELL®
Optimus® and more."
General Wireless acquired 1,743 RadioShack stores in
April 2015 that form the go-forward
footprint of the revitalized company. Also in April, Sprint (NYSE:
S) announced its "The Sprint Store at RadioShack" partnership with
the new RadioShack that will provide RadioShack's customers with
access to Sprint's mobile plans, devices and accessories as well as
RadioShack's full suite of products and accessories. The company's
stores are an essential part of neighborhoods and communities
across America, where its expert associates provide assistance and
education to people of all levels of sophistication.
Garriques continued, "With our enhanced in-store experience,
carefully curated product assortment and game-changing partnerships
with leading technology companies such as Sprint, we are confident
that the new RadioShack will remain a trusted destination for our
existing customer base and attract a new generation of connected
tech enthusiasts."
About RadioShack
RadioShack is a leading
national retailer of innovative technology products and services,
as well as products related to personal and home technology and
power supply needs. RadioShack offers products and services from
top national brands, exclusive private brands, and mobile services
through its wireless partner Sprint, all within a comfortable and
convenient shopping environment. The new RadioShack has over 1,700
company-owned stores and over 600 dealer franchise locations as
well as 1,400 Sprint Stores at RadioShack located nationwide.
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SOURCE RadioShack