Join the conversation:

Puerto Rico feels deep sting of Radio Shack business woes

Puerto Rico feels deep sting of Radio Shack business woes

Posted by Juan Gavasa on February 12, 2015

A week after Puerto Rico is declared bankrupt by its biggest daily newspaper, electronics giant Radio Shack announced it will be closing 44 stores across the island.

Calls to Radio Shack’s Puerto Rico central office about how many jobs will be lost were unanswered and store employees are not authorized to comment.

Fiva Radio Shack locations will remain open on the island, according to “El Nuevo Dia.”  This is all part of a deal made last week with investment firm Standard General.  The firm is buying out between 1,500 and 2,400 of Radio Shack’s 4,000 doors.  Up to 1,750 of those stores will house a Sprint Wireless shop in-house, a deal also announced last week.

Puerto Rico is no stranger to business closings.  CaribbeanBusinessPR.com reported last month that Sony was shutting its doors on the island.  President of Sony Puerto Rico Ricardo Rivera announced the company was closing down the central office and two retail stores, affecting 50 jobs.  Last year beauty giant Elizabeth Arden closed all beauty counters in all retailers on the island and its corporate office.  The number of jobs affected is unknown.

A week after Puerto Rico is declared bankrupt by its biggest daily newspaper, electronics giant Radio Shack announced it will be closing 44 stores across the island. Calls to Radio Shack’s Puerto Rico central office about how many jobs will be lost were unanswered and store employees are not authorized to comment.

Fiva Radio Shack locations will remain open on the island, according to “El Nuevo Dia.”  This is all part of a deal made last week with investment firm Standard General.  The firm is buying out between 1,500 and 2,400 of Radio Shack’s 4,000 doors.  Up to 1,750 of those stores will house a Sprint Wireless shop in-house, a deal also announced last week.

Puerto Rico is no stranger to business closings.  CaribbeanBusinessPR.com reported last month that Sony was shutting its doors on the island.  President of Sony Puerto Rico Ricardo Rivera announced the company was closing down the central office and two retail stores, affecting 50 jobs.  Last year beauty giant Elizabeth Arden closed all beauty counters in all retailers on the island and its corporate office.  The number of jobs affected is unknown.

Link To Full Article: 

Facebook comments



Monthly newsletter featuring articles hand picked by our country managers from the best content across PanamericanWorld.



Monthly newsletter featuring articles hand picked by our country managers from the best content across the Caribbean Region on PanamericanWorld.

PANAMERICANWORLD COUNTRIES