RadioShack is moving ahead with a reorganization that will save a sliver of the former electronics retailing icon, the Wall Street Journal reported today. The reorganized company will be comprised of online operations, a network of independent dealers and “between zero and 28” company-owned brick-and-mortar stores, as detailed in a chapter 11 exit plan that cleared preliminary court review yesterday. The company filed for bankruptcy protection in March, its second filing in two years. Fewer than 30 stores remain in operation from a chain that, before its first bankruptcy in 2015, numbered 4,400. It isn’t known yet whether any will survive, or whether RadioShack will retreat from brick-and-mortar operations entirely, and depend on independent dealers for sales. Judge Brendan Shannon set an Oct. 25 hearing date for confirmation of the chapter 11 plan for the company known as General Wireless Inc., which does business as RadioShack.
