RadioShack filed for Chapter 11 bankruptcy protection on Thursday, according to reports.
The electronics chain filed its long-awaited bankruptcy papers Thursday evening; it aims to reorganize under Chapter 11. The retailer reported assets of $1.2 billion and debts of $1.3 billion, as of Nov. 1, according to Reuters. It will sell up to 2,400 stores.
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The reports came after the New York Stock Exchange delisted RadioShack’s stock, and the company’s stock price fell below $1 last June. Stocks are typically delisted shortly after that threshold Read more…
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