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Tamaqua Radio Shack closes suddenly after 37 years

Tamaqua Radio Shack closed its doors suddenly Wednesday, apparently the most recent victim of corporate restructuring within the Texas-based retail chain.

The store began turning away customers early in the afternoon."We're closed," announced a female worker at 3:15 p.m., speaking through locked glass doors at the store's location at the southeast corner of HT Commons Shopping Center, Hometown.A U-Haul rental truck was parked at the front doors. Several workers could be seen inside the store packing inventory, presumably to be shipped to other Radio Shack locations.The workers would not respond to questions and the store manager wasn't available for comment.Calls to the corporate communications office in Fort Worth, Texas, were not returned.Radio Shack opened its Tamaqua store in 1978, locating at the east end of Jamesway Shopping Center, Route 209.The store moved to HT Commons about 2007, signing a five-year lease at that location.The store employed two full-time and two part-time workers.It is unclear what will happen to those employees.In some ways, the closure isn't a surprise after recent announcements by the struggling retailer.In March, 2014, the company - with 4,000 stores - announced it would close about 1,100 locations, a plan that was later limited to just 200 stores at the direction of a corporate lender.The move to close stores reflected troubling times on Wall Street for Radio Shack.Shares had tumbled at least 10 percent at midyear and the company reported a quarterly loss.Corporate stock reportedly tumbled more than 45 percent at one point in 2014.Joseph C. Magnacca, chief executive officer, blamed an industry-wide downturn in consumer electronics and weak demand for the slate of mobile phones.At least one financial analyst, Brad Thomas, of KeyBanc Capital Markets, expressed concern that Radio Shack potentially could be headed for bankruptcy in 2015.The corporation currently operates other local outlets in Lehighton, Brodheadsville, Frackville, Stroudsburg, Pottsville and Hazleton.

DONALD R. SERFASS/TIMES NEWS Workers were seen packing boxes to be loaded into a U-Haul rental truck Wednesday at Radio Shack, Hometown. The store closed its doors early in the afternoon after 37 years in the community.