RadioShack Files for Chapter 11 Bankruptcy Protection; Says It Will Sell 2,400 Stores

Electronics retailer, RadioShack has filed for Chapter 11 bankruptcy protection and will sell up to 2,400 stores.

It has been a rough go for RadioShack for years, and the Fort Worth, Texas company has struggled with losses. This decision is not a surprise for many, as the company had warned of  possible bankruptcy back in september, but they received rescue financing to keep them going.

This past Monday, the New York Stock Exchange suspended trading of RadioShack's shares and sought to delist it.