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.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below