RadioShack is Reportedly Preparing to File for Bankruptcy Protection Again

by San Antonio Attorney

The parent company of RadioShack is reportedly getting ready to file its second bankruptcy and it is likely that the electronics chain with 1,500 stores may have to close more locations in order to stay afloat.

General Wireless Operations Inc., the owner of RadioShack, is in talks with associate company Sprint Corp.  and possible strategic investors regarding minimizing the chain’s trail and could seek for Chapter 11 bankruptcy protection in March, according a Wall Street Journal report that cited sources.  Sprint has sections in a number of RadioShack stores that vend its smartphones and wireless service.

RadioShack, which is based in Fort Worth, Texas, has laid off several employees of its headquarters and has began shuttering about 200 stores, the reports said.

Even though they have been pressed down by rivals both online and physical stores, RadioShack’s present management is confident that a smaller number of money-making stores can endure, even if RadioShack files for bankruptcy again, according to reports.

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