FORT WORTH, Texas >> RadioShack has filed for Chapter 11 bankruptcy protection for the second time in just over two years, putting the future of the nearly 100-year-old electronics retailer in doubt.
Once known as the place to buy batteries and obscure electronic parts, RadioShack has struggled to hang on to customers as more people shop on Amazon.com and other online retailers.
It redesigned its stores about three years ago and stocked its shelves with popular headphone brands and the latest gadgets. But that didn’t attract more shoppers, and the retailer filed for bankruptcy protection in 2015. After that it tried to lure smartphone-loving shoppers by opening Sprint wireless carrier shops within 1,200 RadioShack locations. But that didn’t help, either.
Sears’ loss widens to $607 million
NEW YORK >> Sears, stung by higher charges, reported a wider fourth-quarter loss of $607 million Thursday, but its loss, adjusted for one-time gains and costs, was smaller than last year.
Sales at Sears and Kmart stores open at least a year, a key indicator of a retailer’s health, dropped 10.3 percent.
ON THE MOVE
>> The Hawaii Foodbank has promoted Wes Perreira to branch manager at its Kauai location. His responsibilities includes day-to-day operations at the warehouse as well as community outreach. Perreira was previously a warehouse supervisor. Prior to joining the food bank, he served in various management positions in the private and public sectors.
>> Hawaii State Federal Credit Union has promoted Michael Akana to assistant vice president of Collections & Recovery from manager. Prior to joining Hawaii State FCU, he served as a mortgage loan officer at Home Loans of Hawaii.
>> Watanabe Ing LLP has announced that Jeffrey T. Ono is a new partner in the Government and Regulatory Affairs Group. He will also take care of civil litigation matters. Ono has more than 30 years of civil litigation experience, including previously serving as executive director of the Division of Consumer Advocacy in the state Department of Commerce and Consumer Affairs.