Many thanks to SWLing Post contributor, Dave Zantow (N9EWO), who shares the following news from Reuters:
RadioShack chain operator files for bankruptcy protection
(Reuters) – U.S. electronics chain RadioShack Corp filed for bankruptcy on Wednesday for the second time in a little over two years, faced with a challenging retail environment and an unsatisfying partnership with wireless provider Sprint Corp.
The Chapter 11 filing comes after RadioShack, owned by General Wireless Operations Inc, tried to revitalize its business by co-branding stores with the wireless carrier in an effort to compete against their largest rivals.
General Wireless, an affiliate of hedge fund Standard General LP that acquired the RadioShack brand in 2015, filed for a Chapter 11 reorganization and 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.[…]