Buck’s Radio Shack will remain open despite the financial woes of the Radio Shack corporation, which is currently undergoing Chapter 11 bankruptcy reorganization. Buck’s friendly staff of (L-R) Daniel Henry, Denise Thomas and Tyler Goldstein wants the public to know that they aren’t going anywhere and are on hand to help in any way they can.
With the recent national news that the Radio Shack corporation has filed bankruptcy, rumors have flown that Buck’s Radio Shack in Grand Marais would be shuttering its doors. However, those rumors are untrue. Radio Shack has filed a Chapter 11 bankruptcy reorganization and not Chapter 7, which calls for complete liquidation and shutdown. The downtown electronics store will continue to be open for business.
“We have no intention of closing down,” said Grand Marais Radio Shack owner Buck Benson.
Many of the 4,000 stores facing closure were company owned, but Buck’s is an independent franchise.
While Radio Shack goes through reorganization and closes more than half of its stores and sells the rest to Sprint and other top investors, its brand will be around for the foreseeable future.
Benson added that any changes with Radio Shack would have little to no impact on his business. “We don’t even get half of the things that we sell from Radio Shack. We’ve never been totally dependent upon them. All of our smart phones, track phones, cell phones, TVs, we get from other vendors,” he said.
Radio Shack, said Benson, largely supplies his store with cables, parts and kits to put electronic systems together. “Right now, while they are going through this reorganization, we aren’t getting anything from them. We have gone to smaller vendors to fill our needs. They [Radio Shack] really don’t know where they will be in the future, but for now we will keep our Buck’s Radio Shack sign above the door.
“If things change we might have a contest to re-name the store,” said Benson.
All of the other services at Buck’s Radio Shack will stay in place.
“We will continue to operate our motor vehicle license service, our drop off services for UPS, Speedy and Fed Ex, which was just added. There is no upcharge to drop off any of those packages at our store and people can leave them at the store at their convenience,” said Benson.
“I just want the public to know that we aren’t going anywhere,” Benson said.
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