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RadioShack files for bankruptcy a second time

Electronics retailer RadioShack has filed for its second bankruptcy in two years and will close about 200 of its 1,500 stores.

The Fort Worth, Tex.-based company previously filed for bankruptcy in 2015. Since then, General Wireless, a joint venture of hedge fund Standard General and Sprint, acquired the chain and ran 1,700 stores.

General Wireless announced Thursday that it had entered a Chapter 11 filing in the U.S Bankruptcy Court in Delaware.

RadioShack is closing about 200 stores and is evaluating options on the remaining 1,300, the company said. Stores remain open for business, as does its website RadioShack.com, which promoted a clearance sale on its home page.

via www.usatoday.com

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