NEW YORK — A diminished RadioShack will live on, but its future may lie with Sprint.
Struggling consumer electronics chain RadioShack, founded nearly a century ago, filed for Chapter 11 bankruptcy protection late Thursday. It plans to sell 1,500 to 2,400 stores to its largest shareholder, Standard General, and has filed a motion to proceed with closing the remainder of its 4,000 U.S. stores.
Wireless carrier Sprint Corp. has a deal with Standard General to open mini-shops in as many as 1,750 of the RadioShack stores Standard General is buying. Sprint would occupy about one-third of the retail space in each RadioShack