Thursday, March 9, 2017

RadioShack Files For Bankruptcy, Again

Fort Worth-based General Wireless Operations, the company which took over the RadioShack name and business two years ago, said late Wednesday afternoon that it has filed for Chapter 11 bankruptcy. According to RadioShack, it anticipates closing approximately 200 stores and "evaluating options" on the remaining 1,300 that it owns. As part of the bankruptcy filing, the company said it is working with Sprint in a bid to save jobs. RadioShack said that its stores and dealer locations across the country are still currently open for business. The new bankruptcy filing two years after RadioShack emerged from bankruptcy via a partnership with Sprint, which co-located Sprint locations within RadioShack's retail footprint. RadioShack cited "surprisingly poor performance of mobility sales, especially over recent months" for the Chapter 11 filing.