RadioShack Files For Ch. 11 Bankruptcy Protection

NEW YORK (AP) – Struggling electronics retailer RadioShack has filed for Chapter 11 bankruptcy protection and says it will sell up to 2,400 stores.

The Fort Worth, Texas company has suffered from years of losses.

RadioShack Corp. introduced the first mass-market personal computer and used to be the go-to stop for consumers’ home electronics needs. But it struggled as shoppers increasingly shifted to making purchases online and growth in its wireless business slowed.

The New York Stock Exchange suspended trading of its shares on Monday and sought to delist it.

RadioShack had warned of a possible bankruptcy in September, but received rescue financing that kept it afloat. Still, its CEO recently cautioned the chain might not be able to find a long-term plan to stay in business.

We welcome thoughts and comments from our viewers. We ask that everyone keep their remarks civil and respectful. Postings that contain profanity, racist, or potentially libelous remarks will be deleted. We will delete any commercial postings, as well.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s