RadioShack files for bankruptcy again, will close 200 stores
The Chapter 11 filing comes after RadioShack, owned by General Wireless Operations, tried to revitalize its business by co-branding stores with the wireless carrier in an effort to compete against their largest rivals.
General Wireless, which acquired the RadioShack brand in 2015, listed assets and liabilities in the range of $100 million to $500 million in the U.S. bankruptcy court for the Delaware district.
RadioShack will close approximately 200 stores and will evaluate options on the remaining 1,300, the company said in a statement.
Sprint will convert several hundred locations into Sprint corporate-owned stores, the wireless provider said in a separate statement.
RadioShack's bankruptcy filing and subsequent store closings are not material to Sprint’s overall sales results, Sprint added. ■
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