The Source Flyer Electronics Inc., trade name as The Source, is a Canadian retail chain of consumer electronics and cell phones. The network dates back more than 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 InterTAN assets from its parent, US retailer Circuit City, in 2009. The Source is a unit of 4458729 Canada Inc. and is based in Barrie Ontario.
The Source started out as the Canadian branch of Radio Shack (later RadioShack). The chain was originally owned by Radio Shack’s US parent company Tandy Corporation, but was spun off in June 1986, along with the rest of Tandy’s international operations, such as InterTAN. A licensing agreement with what became RadioShack Corporation allowed InterTAN to continue to use the network’s name and logo. InterTAN abandoned its unprofitable West German stores in 1987, left Belgium and France in 1993, sold its British stores to Carphone Warehouse in 1999 and sold its stores to the Woolworth subsidiary Dick Smith Electronics (in Australia) in 2002, leaving only stores Canadian Radio Shack, Battery Plus and Rogers Plus.
In May 2004, InterTAN was acquired by Circuit City. A week after the acquisition was completed, RadioShack Corporation filed suit in the 352nd Judicial District Court in Tarrant County, Texas, to finalize the license agreement. RadioShack Corporation claimed that InterTAN had breached the terms of its agreement. On March 24, 2005, the district court judge ruled in favor of RadioShack and canceled the agreement. The ruling prohibited InterTAN from using the brand name in its stores or on any of its products, packaging and advertising after June 30, 2005.
On April 26, 2005, Circuit City announced that the stores would be renamed “The Source by Circuit City” (“La Source par Circuit City” in Quebec). The rebranding process was completed at most of the chain’s Canadian stores on July 1, 2005. The chain also introduced new in-house brands, including Nexxtech and Vital, in place of the RadioShack store brands.
In February 2007, The Source announced that it would close 62 low-volume stores in Canada. On March 30, 2007, Circuit City announced to its shareholders that it was seeking options, including the sale of the subsidiary InterTAN / The Source to reduce losses. On November 10, 2008, InterTAN sought protection from its creditors after Circuit City filed for bankruptcy through Chapter 11 bankruptcy.
Circuit City announced on January 16, 2009 that its namesake stores in the United States would be liquidated. Origin was unaffected by the announcement, and a process to sell off the Canadian operations was followed as a growing concern.
On March 2, 2009, the Canadian telecommunications firm Bell Canada announced that it would acquire the source and continue to operate as an independent division. The acquisition was completed on July 1 for the final purchase price of $ 135 million, causing the chain to remove “Circuit City” from its name. Before January 2010, stores were selling mobile phone services from Bell’s main competitor, Rogers Wireless; At that time, the chain began marketing exclusively to Wireless itself (including the Value Virgin Mobile brand), Television, and the Internet.
The Source Flyer continues to sell a full range of consumer electronics products.
The Source stocks a wide range of products. Most of the products are consumer electronics, including: cell phones, computers, computer accessories, televisions, DVD players, Blu-ray players, home theater systems, clock radios, traditional phones, toys, SiriusXM satellite radios , console game equipment, cables (such as HDMI, DVI, Component, Composite / RCA, VGA, S-Video, USB, Serial, etc.), Bell devices, Virgin Mobile devices, Bell TV and MP3 players, as well as a great selection of headphones, including Sony and Skullcandy models.
The Source also offers private label products under brands such as Bright, Headrush, Kapsule, Nexxtech, Vital, and Xtreme Gaming.
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