The RadioShack bankruptcy is set to claim the national electronic retailer’s Standish location, but leave the Windham location unaffected.
On Feb. 5, the RadioShack Corp. filed for Chapter 11 bankruptcy. The company has since posted a list of 1,784 stores across the country slated for potential closure.
The Standish store, located in the Standish Colonial Marketplace, is listed along with 12 other Maine locations on a “potential store closure list” posted on the company’s website.
The manager of the Standish location declined to provide her name or a comment on the potential closure. A national RadioShack spokeswoman also declined to comment on the fate of the Standish store.
Mike Esposito, the co-owner of the independent North Windham RadioShack dealership since the mid-1990s, said the Standish location is likely going out of business.
“They’re already closing,” Esposito said. “They liquidated their products these past few months.”
Esposito, who said his family signed a one-time franchise payment with RadioShack several decades ago, said his business will not be negatively affected by the bankruptcy. He said he intends to keep the name.
“What they’re doing for selling off stores isn’t affecting me at all,” Esposito said.
Esposito purchases the bulk of his electronics from RadioShack. But even if the company completely shuts down, Esposito said his business will soldier on.
“I can purchase product elsewhere, so I will continue to buy supplies from other vendors, if that’s the case,” he said. “I plan on staying in business. We want to stay here.”
“I’ve had so many people come in and question and be thankful that I’m still going to be around,” Esposito added.
The bankrupt electronics retail chain was founded in 1921 and based in Fort Worth, Texas. It owns 4,297 stores, while approximately 900 more RadioShack stores are operated by independent dealers.
On its website, the company posted a press release stating that it is “open for business.”
“We intend to transition a portion of our stores to new ownership and begin a sale process for other company-owned assets,” the release stated.
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