RadioShack to close stores in Joliet, Bolingbrook

2/6/2015, 6:23 p.m.
Liquidations sales are under way at both stores as the company seeks to generate cash to pay off creditors, reports ...
This RadioShack at 1196 W. Boughton Road in Bolingbrook as well as the one at 1351 S. Larkin Ave. in Joliet will close in the wake of the electronics company filing for Chapter 11 bankruptcy.

Two of the 1,700 stores RadioShack plans to shut down in the wake of its bankruptcy filing are in Joliet and Bolingbrook, the company announced Friday.

Liquidation sales are under way at the 1351 S. Larkin Ave. store in Joliet and the 1196 W. Boughton Road, both of which were classified as under-performing.

The store closures were authorized Friday by U.S. Judge Brendan Shannon, one day after the Texas-based RadioShack filed for bankruptcy protection in Wilmington, Del.

According to Forbes magazine, the 94-year-old company started 94 years ago selling radios as the market for electronics started to take off. It was acquired by the Tandy Corp. in 1962 and eventually became a top seller of early cellphones as well such items as beepers, Walkmen, CD players and other items that eventually became obsolete as the market changed, the magazine said.

Although it took a hit by other electronics goods sellers, such as Best Buy, it managed to survive for many years despite the closure of such competitors as Circuit City, the magazine said.