Days after running an expensive and well-received Super Bowl ad, RadioShack Corp. plans to close about 500 stores in the coming months, the Wall Street Journal reported Tuesday, citing unnamed sources.
The electronics retailer is working with advisers to restructure the company. The Journal said it is unclear which of RadioShack's roughly 4,500 stores will be shuttered or when those closings will begin.
Based in Fort Worth, Texas, the chain is trying to transform its image from an old-school electronics store into a destination for shoppers looking for entertainment gadgets like headphones and smartphone cases.
RadioShack's commercial during Sunday's Super Bowl poked fun at the company's outdated image with a collection of 1980s-era entertainment personalities, including Tampa Bay celebrity Hulk Hogan.