Federal Way RadioShack on potential store closure list

RadioShack representatives recently released a long list of potential store closures throughout the country and the Federal Way store is among them.

RadioShack representatives recently released a long list of potential store closures throughout the country and the Federal Way store is among them.

The list comes days after a Feb. 5 announcement that RadioShack Corporation will enter “Chapter 11” bankruptcy.

General Wireless Inc. signed an asset purchase agreement with the electronic store to acquire 1,500-2,400 RadioShack stores in the U.S., according to a RadioShack news release. However, the sale agreement is subject to court approval and conditions.

Stores that are closing are expected to sell remaining inventory.

RadioShack currently has about 4,000 stores in the U.S. as well as 1,000 dealer franchise stores in 25 countries. Stores in foreign countries, including those operated by its Mexican subsidiary and its Asian operations are not included in the bankruptcy.

“These steps are the culmination of a thorough process intended to drive maximum value for our stakeholders,” said Joe Magnacca, RadioShack’s chief executive officer in a news release.

As part of the bankruptcy motions, RadioShack is seeking court approval to continue employee wages, some benefits and customer programs.

The Federal Way RadioShack is located at 32041 Pacific Highway S. and is about 2,800 square feet. Other potential closures in Washington include stores at Bonney Lake Village, Capital Mall in Olympia, a store in the Tacoma Mall and at South Hill Mall and the Meridian Center Shopping Center in Puyallup.

For more information, visit radioshackcorporation.com.