RadioShack flips the switch, readies to open on Thanksgiving Day

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Daniel Acker

RadioShack is planning to open most of its stores at 8 a.m. on Thanksgiving Day.

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Danielle Abril

Staff Writer- Dallas Business Journal

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Struggling RadioShack Corp. reversed last year's stance on Thanksgiving and has chosen to open up shop on Thanksgiving Day.

The Fort Worth-based electronics retailer plans to open the majority of its stores at 8 a.m. that Thursday. Mall locations will follow the hours of its corresponding shopping center.

"Given the customer demand for store hours on Thanksgiving last year, we made the decision to open on Thanksgiving," said spokeswoman Andrea McCauley in a written statement. "Opening early allows us to stay competitive, while giving our customers extended hours, new services and great prices."

The shifts will be filled first by volunteer employees, McCauley's statement added.

Last year, all the while struggling, the company took the opposite stance when other retailers chose to set a new precedent and open a day early.

"Our associates are known to be the most knowledgeable in the industry," spokeswoman Merianne Roth told the DBJ last year. "They work hard all year and giving them the Thanksgiving holiday is important to us."

RadioShack (NYSE: RSH), under the leadership of CEO Joseph Magnacca, has been working on a turnaround for years. Earlier this year, its management team suggested bankruptcy could be in its future if it could not find additional funding.

But thanks to hedge fund Standard General LP and other investors, the retailer was able to solidify $120 million expected to help it get through the holiday season.

Since then, it hired turnaround advisory firm MAEVA Group, led by Harry J. Wilson, who previously helped restructure General Motors and Chrysler through his work at the U.S. Department of Treasury.

Danielle covers technology, retail, restaurants and hospitality for the Dallas Business Journal. Subscribe to our new TechFlash email newsletter.