CHARLESTON, W.Va. — At least seven Radio Shack locations throughout the state will remain open as part of deal between the company and hedge fund Standard General.
The deal, which a judge approved earlier this month, is valued at around $160 million and will keep more than 1,000 locations across the country open.
Locations in Huntington, Weirton, Beckley, Clarksburg, Morgantown, Wheeling and Moundsville will stay open for business, according to court records.
Standard General plans to run many of the remaining stores with the country’s third largest wireless company, Sprint. The goal is to lure more customers into the electronics store with wireless options.
The company had been in business for 94 years, before filing for Chapter 11 bankruptcy in a Delaware court in February. Shortly after, nearly 2,000 stores launched going-out-of-business sales.
Court records show the store was bogged down with $1.38 billion in liabilities and $1.2 billion in assets.
Radio Shack operated around 4,000 stores across the country.
Standard General’s keeping 1,743 stores open will save about 7,500 jobs…