RadioShack Corp. says it will close 1,100 stores by the end of spring — a quarter of its total stores — and it could affect some of its stores locally.
The company didn’t say which of its more than 5,000 stores it will close, but there are 283 stores in Florida, including one at 23012 State Road 54 in Lutz, and another at The Shops at Pebble Creek, 19416 Bruce B. Downs Blvd., in Tampa. Zephyrhills also has a RadioShack at 7248 Gall Blvd.
“Over the past few months, we have undertaken a comprehensive review of our portfolio from many angles — location, area, demographics, lease life and financial performance — in order to consolidate our store base into fewer locations while maintaining a strong presence in each market,” said Joseph C. Magnacca, chief executive of RadioShack, in a release.
The two local RadioShack stores are part of a greater region of Pasco and Hillsborough counties were the company currently operates 10 stores, some just minutes from others. The Lutz location is the last location north in west central Florida until Brooksville.
Sales at company-operated RadioShack stores were down 10 percent in 2013 from the year before, and 15 percent from 2011.
It will cost RadioShack a little more than $10,000 per store to close them, and another $9,200 in inventory write-downs, according to documents filed with the U.S. Securities and Exchange Commission.
The closings could affect as many as 7,000 employees nationwide.
