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RadioShack has filed for bankruptcy for the second time.

, the electronics chain declared bankruptcy and then reorganized its business, closing thousands of stores and selling others to a hedge fund called Standard General, which took over the remaining business through its affiliate General Wireless.



The plan was to reinvent the once-booming retail electronics business to compete in a market that has increasingly leaned toward online retailers. More than 1,000 RadioShack stores co-branded with the wireless company Sprint.

, listing assets and liabilities each between $100 million and $500 million.


 saying it was planning to take over some RadioShack co-branded locations, and that it would "provide opportunities for all Sprint employees working at Sprint-RadioShack locations to transition to another Sprint store," continuing:



In addition to the dissolving partnership with Sprint, 

 that General Wireless plans to close 200 RadioShack franchise stores.


As we have reported, RadioShack started out selling radio supplies to officers on ships in 1921:

Business and Economic News

Rebecca Hersher

Author

The electronics chain closed thousands of stores in 2015 and restructured the remaining business in an attempt to stabilize sales. On Wednesday, the new parent company filed for bankruptcy.

RadioShack files for bankruptcy -- again

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