Radio Shack (Canada) Commercial - early 2000's
Radio Shack commercial broadcast sometime in the early 2000s
The Source Electronics Inc., doing business as The Source, is a Canadian consumer electronics and cell phone retail chain. The chain goes back over 40 years in Canada, initially as Radio Shack and later as The Source by Circuit City. The Source is now owned by BCE Inc., which purchased the assets of InterTAN from its parent, American retailer Circuit City, in 2009.
The Source began as the Canadian branch of Radio Shack (later "RadioShack"). The chain was originally owned by Radio Shack's American parent company Tandy Corporation but was spun off in June 1986, along with the rest of Tandy's international operations, as InterTAN. A licensing agreement with what became RadioShack Corporation allowed InterTAN to continue to use the chain's name and logo.
In 2004 InterTAN was acquired by Circuit City. In 2005, Circuit City announced that the stores would be renamed The Source by Circuit City. The rebranding process was completed in the majority of the chain's Canadian stores by July 1, 2005. The chain also introduced new house brands, including Nexxtech and Vital, in place of RadioShack store brands.
In February 2007, The Source announced it would close down 62 low-volume stores across Canada. On March 30, 2007, Circuit City announced to its shareholders that it was seeking options including selling off the InterTAN/The Source subsidiary to cut losses. On November 10, 2008, InterTAN sought protection from its creditors, after Circuit City filed for Chapter 11 bankruptcy.
Circuit City announced on January 16, 2009, that its namesake U.S. stores would be liquidated. The Source was not affected by the announcement, and a process followed to sell the Canadian operations as a going concern.
On March 2, 2009, Canadian telecommunications firm Bell Canada announced it would acquire The Source and continue to operate it as an independent division. The acquisition was completed July 1 for the final purchase price of $135 million US, following which the chain removed the "by Circuit City" from its name. Prior to January 2010, the stores sold mobile phone services from Bell's main competitor, Rogers Wireless; at that point, the chain began to exclusively market Bell-owned wireless (including value brand Virgin Mobile), television, and internet services.