Fort Worth, Texas — RadioShack currently has about 4,000 company-owned stores in the United States.
RadioShack filed for Chapter 11 bankruptcy Thursday after years of struggling with sluggish sales and competing against online retailers. General Wireless, Sprint’s largest shareholder, agreed to acquire between 1,500 and 2,400 RadioShack U.S. company-owned stores. This acquisition facilitated the bankruptcy filing from RadioShack and some of its U.S. subsidiaries.
RadioShack’s foreign subsidiaries and its franchisee-owned stores are not included in the filing. Other parties will also have an opportunity to submit offers for RadioShack’s assets in a court-approved process. General Wireless has partnered with Sprint to create a new dedicated mobility “store within a store” retail presence in up to 1,750 of the acquired stores. RadioShack currently has about 4,000 company-owned stores in the U.S. The stores that aren’t purchased by Sprint and its affiliates will close through a deal with liquidation firm Hilco Merchant Resources.