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RadioShack files for bankruptcy again

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by: Brianna Chambers, Cox Media Group National Content Desk

For the second time in less than three years, electronics company RadioShack is filing for bankruptcy.

The retailer, based in Fort Worth, Texas, and founded in 1921 in Boston, will close about 200 stores.

RadioShack, which first filed for bankruptcy in 2015, filed again in a Delaware court Wednesday.

RadioShack announced plans to close more than 1,000 underperforming stores in March 2014.

In 2015, telecommunications corporation Sprint and the hedge fund Standard General agreed to buy up to 2,400 of RadioShack’s stores. At the time, RadioShack had about 4,000 stores in the United States.

This week, the company said it will evaluate its options for the remaining 1,300 stores and will try to “preserve as many jobs as possible.”

According to The Associated Press, anything sold at physical RadioShack stores can’t be returned for a refund, but items purchased online at RadioShack.com can be returned. RadioShack gift cards must be used by April 7.

Read more at The Associated Press.

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