RadioShack to close 1,100 stores
Electronic retailer RadioShack plans to close 1,100 stores in a cost-cutting effort, according to a news release from the Texas-based chain.
The move would leave the company with about 3,000 of its own stores and some 900 franchise locations. In Walworth County, RadioShack has two locations: 737 Main St., in Lake Geneva and 1823A Geneva St., Delavan. The news release did not disclose which stores would close.
The company is in the midst of a turnaround to strengthen sales.
RadioShack lost $191.4 million in the fourth quarter of 2013, compared with a loss of $63.3 million in the same period one year ago.
"Our fourth-quarter financial results were driven by a holiday season characterized by lower store traffic, intense promotional activity particularly in consumer electronics, a very soft mobility marketplace and a few operational issues," CEO Joseph Magnacca said in the release.