After recently filing for bankruptcy, RadioShack will close three of its Waukesha County stores.
Closing over the next two months will be the Waukesha store at 2120 E. Moreland Blvd., in the Westbrook Shopping Center; Pewaukee store, 2122 W. Silvernail Road, in the Silvernail Shopping Center; and Menomonee Falls store, N81 W15106 Appleton Ave.
The company plans to close 1,784 stores across the country over the course of three waves. The Waukesha store is part of the second wave of stores that are set to shut their doors Feb. 28. Pewaukee's location is part of the third wave that will close March 31.
An employee at the Menomonee Falls location said he did not have information on when that store will close, but according to a news release, the Falls site will be part of the second wave of closings.
According to the company's website, RadioShack has signed an asset purchase agreement with General Wireless Inc., which has agreed to acquire between 1,500 and 2,400 of RadioShack's U.S. company-owned stores.
For the transaction to go through, RadioShack and some of its U.S. subsidiaries have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The news release said other parties will have an opportunity to submit offers for RadioShack's assets in a court-approved process.
The news release added that the sale agreement is subject to court approval.
Moreover, General Wireless has agreed with Sprint to establish a new dedicated mobility 'store within a store' retail presence in up to 1,750 of the acquired stores. This agreement-in-principle is subject to negotiation, the release said.
The stores that are closing are expected to sell the remaining inventory.
Signs at the Waukesha store indicate all merchandise is on sale and many of the shelves started to empty last week. The Menomonee Falls site also has similar closing sales.
A store employee said Pewaukee's RadioShack is also selling all of its merchandise at sale prices.
Meanwhile, the RadioShack at 2140 W. St. Paul Ave., Waukesha, was spared from the chopping block and will remain open.