About a dozen RadioShack stores in the greater Valley are expected to close their doors due to the bankruptcy of the electronics chain.
The stores, in the San Fernando, Conejo and Simi valleys, are among 1,600 to 2,500 underperforming company-owned stores that the Fort Worth, Texas retailer plans to close, pending approval by the U.S. Bankruptcy Court in Delaware.
The company is seeking to close up to 1,100 by the end of the month.
It also wants to sell 1,500 to 2,400 of its remaining company stores to Standard General, its largest shareholder. The New York investment firm has a deal with wireless carrier Spring Corp., which plans to sell wireless service and mobile phones in up to 1,750 of the stores.
“These steps are the culmination of a thorough process intended to drive maximum value for our stakeholders,” said RadioShack Chief Executive Joe Magnacca, in a statement.
RadioShack’s foreign subsidiaries and franchisee-owned stores are not included in the filing. There are about 1,000 independently owned stores in the United States.
Local, company-owned stores to close are in Encino, Panorama City, Van Nuys, Sherman Oaks and Sun Valley within the San Fernando Valley; and in Ventura, Oxnard, Moorpark, Simi Valley and Thousand Oaks within Ventura County.