RadioShack files for bankruptcy for second time in 2 years

RadioShack files for bankruptcy for second time in 2 years

Posted: Updated:

Electronics chain RadioShack is filing for Chapter 11 bankruptcy again just two years after they last declared bankruptcy.

The company announced the filing in U.S. Bankruptcy Court on Wednesday. As part of the bankruptcy, RadioShack will close about 200 stores and consider its options on the remaining 1,300 across the country.

RadioShack President and CEO Dene Rogers said the company is moving forward with bankruptcy primarily due to poor sales in its mobility business. It is unknown how many employees will be laid off as part of the restructuring. 

It isn't clear if the RadioShack store in Pekin will be impacted. 

Powered by Frankly