Published : Monday, March 20, 2017 | 4:38 AM
Electronics retailer Radio Shack has filed for bankruptcy again and is closing its Lake Avenue Pasadena store, two years after the retailer first filed for Chapter 11 bankruptcy and closed more than 1,000 locations.
The Pasadena store, in a strip mall at 825 N. Lake Avenue, has long been a fixture in the area and was the place to go when customers were looking for small electronic items like pocket radios, home speaker systems, and even remote-controlled toy cars and aerial drones.
The store is one of 187 stores Radio Shack has listed as closing right away. An additional 365 are closing in the first week of April. The closures will affect 36 percent of the chain’s stores.
In a court filing, Radio Shack said the stores closing are those with the “lowest sales velocity and highest rent.” A total of 75 of these are in California.