Suburban RadioShack stores to combine with Sprint
A number of suburban RadioShack stores will reopen Friday as Sprint-RadioShack following a deal between the mobile telecom provider and the company that took over the stores from the bankrupt electronics retailer.
The move is part of an expansion by the Kansas-based company, which will use the stores to sell equipment, leases and services for its Sprint, Boost and Virgin Mobile brands. The company said in the release that Samsung's new Galaxy S6 smartphone will be among the offerings at the new stores.
RadioShack, a one-time retail electronics giant that lost significant market share over the years, filed for bankruptcy in February. General Wireless Inc., an affiliate of Standard General LP, last week took over the leases of 1,743 RadioShack stores and Sprint agreed to be co-tenants in 1,435 of the stores, with Sprint being the primary brand, according to a news release from Sprint.
Sprint will occupy roughly one third of the retail space at the RadioShack locations and will work with General Wireless to build out a "store-within-a-store" retail model. The company said the expansion would add nearly 3,500 new jobs nationwide, but did not specify how many of those jobs would be in the Chicago area.
Suburban RadioShack stores that will be converted include Arlington Heights, Aurora, Bartlett, Bensenville, Crystal Lake, Des Plaines, Fox Lake, McHenry, Naperville, Round Lake Beach, Waukegan, Wheeling and Willowbrook.
"Customers value the ability to walk into a neighborhood Sprint store near where they live and work," said Sprint CEO Marcelo Claure. "With more stores, and including Boost and Virgin Mobile, we're providing additional shopping opportunities and making it easier and more convenient for consumers to do business with us."
RadioShack CEO Ron Garriques said the partnership will help preserve the company's brand.
"Together, we can preserve jobs and an iconic American company specializing in mobility, connectivity and innovation," Garriques said. "This arrangement is truly a win-win, giving Sprint a much larger footprint and providing both companies immediate access to each other's customers."