RadioShack Files For Ch. 11
Following months of rumors, RadioShack on Thursday filed for Chapter 11 bankruptcy.
According to RadioShack's announcement, it has actually performed three actions: The chain has agreed to sell between 1,500 and 2,400 existing stores to Standard General affiliate General Wireless Inc. In turn, General Wireless has agreed to with Sprint to established a "store within a store" concept at 1,750 of those stores. And RadioShack announced the bankruptcy filing.
With the store-within-a-store concept, the RadioShack name will live on.