RadioShack has announced plans "to close 1,100 of its 4,000 stores in a bid to stem [financial] losses," reports TechCrunch.com.
The story adds: "The parts drawer. The RC toys. The various different types of solder and breadboards. RadioShack. It is quickly dying."
Today, March 4, 2014, "RadioShack reported a loss of $191.4 million during [the fourth quarter of 2013], compared with a year-earlier loss of $63.3 million," the story says, adding, "Revenue declined 20% to just $935.4 million."
The article also says: "The company is currently trying to rebrand itself from its former DIY self to what it calls ‘Do It Together.’ But RadioShack is on borrowed time.
"RadioShack has long been a retailer without a soul. About 10 years ago it turned away from the then-dead DIY scene and started hawking cell phones. As a staple in the American mall, this kept the company afloat but clearly didn’t set the stage for long-term growth."
The reports notes: "The no-name RC toys do not have a spot under this retail plan and the parts drawer is a relic of a forgotten era."
Here’s the RadioShack Super Bowl commercial that was very well received last month: