RadioShack could lose its last connection to Fort Worth with the company telling the Texas Workforce Commission it plans to layoff its 150 employees and close ts corporate headquarters on May 26.
In a WARN letter to the Texas Workforce Commission, the company said it is looking to emerge from bankruptcy. The retailer filed for Chapter 11 protection in early March, two years after an earlier bankruptcy. In its latest bankruptcy filing, the company, now owned by General Wireless Operations Inc., said it planned to close 200 of its 1,300 stores.
“The company is exploring options that would enable it to reorganize and emerge from bankruptcy as an ongoing business,” said Bradford A. Tobin, senior vice president and general counsel, in the letter from TWC.
Even if the company does come up with a viable restructuring plan, it expects to lay off several of the 150 headquarters employees, the company said in its letter.
If the company restructuring doesn’t work, the company will likely close the company’s headquarters in Fort Worth.