Consumer Electronics

U.K. toy retailer Hamleys has opened Europe’s largest toy store, a 73,000-sq.-ft. location close to the Kremlin in Moscow. Designed by Fitch, the two-level space is heavy on interaction and is divided into nine themed areas that combine retail and entertainment.

After trying to get RadioShack back on its feet for nearly two years, CEO Joe Magnacca is stepping down.

New York -- Joe Magnacca has stepped down as CEO of RadioShack. Magnacca made the announcement on Wednesday in an internal memo to employees, according to the Dallas Business Journal. It came a day after Standard General was given the green light by a bankruptcy court judge to acquire RadioShack’s assets.

New York -- A former executive of Dell Inc. has been tapped as the new CEO of RadioShack. Standard General, the hedge fund that bought 1,743 of the chain’s stores in bankruptcy court proceedings, has appointed Ron Garriques as the new head of RadioShack.

Garriques headed Dell's consumer and communications divisions and previously worked at Motorola Inc. He replaces Joseph Magnacco, who resigned Wednesday after two years as CEO.

Fort Worth, Texas - General Wireless Inc., an affiliate of Standard General LP, has officially received U.S. Bankruptcy Court approval to acquire the inventory and assume leases of 1,743 RadioShack stores following a bankruptcy auction. The company operates a long-term partnership with Sprint, and Sprint will provide services, products and accessories at some stores.

The stores will feature emerging technologies, as well as the traditional accessories and DIY for which RadioShack is known. Approximately 1,440 stores will be co-branded with Sprint.

Grand Rapids. Mich. - Meijer will invest nearly $50 million in extensive remodel projects for four supercenters located in Kettering, Miami Township, Englewood and Beavercreek, Ohio.  

A plan to co-brand RadioShack stores with the Sprint logo will apparently save the chain from extinction, according to the Wall Street Journal.  

Fort Worth, Texas – In what may be a tale of survival to rival the PT 109 ordeal of John F. Kennedy, RadioShack Corp. will exit Chapter 11 bankruptcy with some 1,700 stores intact.  

A bankruptcy judge on Tuesday approved the sale of 1,743 RadioShack stores to hedge fund Standard General, preserving some 7,500 jobs, the Wall Street Journal reported. Standard General intends to operate most of the preserved RadioShack stores in an alliance with Sprint Corp.