Here’s What Co-Branded Sprint-RadioShack Stores Will Probably Look Like

sprintshackYesterday, the sale of 1,740 remaining RadioShack stores to hedge fund Standard General was approved by a bankruptcy court. We’ve known since before the bankruptcy filing that their plan is to team up with Sprint to re-open stores that will be part phone store, part RadioShack merchandise. What would that look like? Sprint has already showed us. Well, they showed the federal bankruptcy court in Delaware, which makes them public documents.


Here’s the original document: the later pages aren’t all that interesting to people who aren’t heavily into retail demolition. The document was filed on Monday: if RadioShack’s new management and Sprint stick to the same timetable, stores in the new format will be open in a week and a half.


sprintstoreplan


It looks like the “Fast Start” layout is meant to use much of what’s already there in RadioShack. Of course, all of those displays from other carriers would have to go: the most important task would be removing AT&T, Tracfone, and Verizon displays in favor of Sprint and its prepaid buddies like Boost and Virgin Mobile.


sprintstorefront


The biggest change would be to the signage. Even though Sprint is supposed to take up only 1/3 of the square footage of each store, you wouldn’t know that from the sign out front.


sprintstorelayout




by Laura Northrup via Consumerist

One Year After Merger, Men’s Wearhouse Announces Layoffs At Jos. A. Bank HQ

(Xurble)

(Xurble)



It was a little over a year ago that Men’s Wearhouse and Jos. A. Bank ended months of contentious courtship and merged, with Men’s Wearhouse acquiring the smaller clothing chain for $1.8 billion. Now, the honeymoon is over, and Men’s Wearhouse is laying off or transferring some employees at Jos. A. Bank HQ in Hampstead, Maryland.

Men’s Wearhouse plans to lay off 122 employees and move many of the positions currently based in Maryland to Men’s Wearhouse offices in New York City and in Fremont, California. Shortly after the merger in June of last year, there were 778 employees at the Jos. A. Bank headquarters. A spokesperson told Baltimore Business Journal that there will be an estimated 450 employees left after the layoffs and restructuring are done.


Men’s Wearhouse plans to keep Jos. A. Bank’s HQ in Hampstead — but with far fewer workers [Baltimore Business Journal]

Report: Jos. A. Bank lays off 122 headquarters employees [Chain Store Age]




by Laura Northrup via Consumerist

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Bankruptcy Court Approves Sale Of 1,740 RadioShacks To Standard General


The Great RadioShack Bankruptcy Auction Standoff may be over. The 94-year-old electronics retailer declared bankruptcy in February, and then closed around half of its stores, selling their leases. The company wanted to rid itself of the rest of its stores before April began so they won’t have to pay April rent on all of those stores out of money that should be going to their creditors.

The most important creditor here is Standard General, which is using RadioShack’s debt to the hedge fund as part of its bid for 1,740 of the chain’s remaining stores. Today, the bankruptcy court approved the sale of those remaining stores to despite the objections of other lenders. RadioShack preferred the bid from Standard General, which consisted of debt forgiveness and a modest amount of cash.


Backers of the SprintShack plan say that it will keep more than 7,000 current RadioShack retail employees working. The judge decided that Standard General’s bid was the superior one, and had the added benefit of “saving a century-old American retail icon.”


The highest competing bid for the company was from another lender, Salus Capital Partners. While that bid was entirely in cash rather than debt forgiveness, it would have led to having liquidators sell store inventory, leases, and fixtures


RadioShack co-branding of stores with Sprint wins court approval [RadioShack]




by Laura Northrup via Consumerist

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