As twice-bankrupt electronics retailer RadioShack cuts back on its remaining network of stores across the country, the company has notified the state of Texas that it may close its corporate headquarters in Fort Worth at the end of May, or at minimum lay off some of the people who work there as its store network shrinks even more.
The Dallas News reports that the Shack filed a WARN Act (Worker Adjustment and Retraining Notification Act) notice with the state two months ahead of the potential layoffs as required, explaining in a letter that it hopes to “reorganize and emerge from bankruptcy as an ongoing business,” but will have to close the headquarters and lay off all 150 people who work there if the company can’t make a go of it as a slimmed-down company that has severed its retail partnership with Sprint.
The company kept its corporate headquarters in Fort Worth after the 2015 bankruptcy, though its corporate campus full of Shack-themed art was sold to raise cash shortly after it opened in 2005.
RadioShack announced plans to close 200 stores and evaluate its options for the remaining 1,300 when it filed for its second bankruptcy in 25 months earlier this year. Those options turned out to be going-out-of-business sales at a few hundred more stores across the country.
The company will decide in the coming weeks how many stores to keep open or whether it will shut down and liquidate all of its merchandise. Keeping some stores open might preserve some of those jobs in Fort Worth.
by Laura Northrup via Consumerist
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