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Last Updated ( Wednesday, 05 March 2014 01:30 )
DATE_FORMAT_LC2=Tuesday,March 04 2014 12:00:00 am EST   
RadioShack Hires A&G Realty Partners To Close Up To 1,100 Stores

Melville, N.Y.  — A&G Realty Partners has been engaged by RadioShack to lead the disposition of up to 1,100 underperforming stores. Radio Shack announced this week it would close the stores after revenues and sales have continued to slip for the electronics retailers, which has reportedly been struggling with an outdated image in the marketplace. RadioShack reported a loss of $191.4 million in the three months ended Dec. 31, 2013. Stock prices were down 22 percent in the past year. The company is continuing to work toward rebuilding its brand, following a slow holiday season, some operational issues and a some higher-level re-staffing. The stores that will close were chosen based on location, area demographic, lease life and financial performance.

"We will publish the store closing list when it becomes available," says A&G Co-President Andrew Graiser. "However, RadioShack has a good real estate portfolio, and we expect there to be strong interest from retailers who are looking for locations ranging from 1,500 to 5,000 square feet."

 

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