Radio Shack Joins Hhgregg in Closing Up Shop in Rockford
It's been that kind of month in Rockford. Earlier in April, electronics retailer hhgregg announced they were seeking bankruptcy protection in the hopes of finding a buyer for their 220 stores. A few days later, they announced that a buyer couldn't be found.
Hhgreg had tried to save the chain by closing 3 distribution centers and 88 stores, but in the end it wasn't enough, and they're now going through the finishing stages of the liquidation process.
From 23WIFR News:
Founded in 1955, the retailer had 220 stores in 19 states selling major appliances like washers and TVs, as well as computers and home theater systems. As of May last year, it had about 5,000 employees. "While we had discussions with more than 50 private equity firms, strategic buyers, and other investors, unfortunately, we were unsuccessful in our plan to secure a viable buyer of the business on a going-concern basis within the expedited timeline set by our creditors," said CEO Bob Riesbeck.
It was also announced yesterday that Rockford's remaining Radio Shack on Sandy Hollow Road would be closing up the doors for the final time this weekend. RadioShack, which filed for bankruptcy for the second time recently, announced the closing of 552 of its stores, which is about 36% of their total store count. They went on to say that 1000 more stores would be scrutinized for possible closure.
Business Insider has the full list of Radio Shack closings nationwide, but let's just look at Illinois:
- 19 Crystal Lake Plaza, Crystal Lake
- 1191 S Elmhurst Rd, Des Plaines
- 843 E Rollins Rd, Round Lake Beach
- 2565 Sycamore Rd, Dekalb
- Woodfield Mall, Schaumburg
- 21182S La Grange Rd, Frankfort
- 535 S La Grange Rd, La Grange
- Willowbrook Plaza 6944 Kingery Hwy, Willowbrook
- Rock River Plaza 3925 41St Ave Dr, Moline
- Fairview Park Plaza, 1055 W Broadway, Centralia
- Gladstone Corners, 5316 N Milwaukee Ave, Chicago
- Ashland Plaza, 3150 S Ashland Ave, Chicago
- 5791 Belleville Crossing, Belleville
- Aurora Commons, 1272 N Lake St, Aurora