RadioShack Files For Chapter 11 Bankruptcy Protection: Reports

RadioShack Corp. filed for Chapter 11 bankruptcy protection in the face of mounting losses, according to media reports late Thursday. Shares of the 94-year-old consumer electronics chain were delisted by the New York Stock Exchange ealier in the week. Over-the-counter shares were down 4% to 9 cents in after-hours activity. Under an agreement, RadioShack will sell up to 1,750 stores to Sprint Corp. and up to 2,400 stores to Standard General LP, according to The Wall Street Journal.