- RadioShack Corp. filed for Chapter 11 bankruptcy Thursday evening.
- The long-struggling electronics retailer will sell 1,500 to 2,400 stores to an affiliate of its biggest shareholder, Standard General LP. The company outlined terms of the agreement in a statement released Thursday.
- Standard General has crafted a partnership with Sprint Corp. to set up a Sprint "store within a store" retail model within as many as 1,720 RadioShack locations.
Although RadioShack's bankruptcy comes as no surprise, with the retailer reporting 11 straight quarterly losses, its downfall highlights the shifting landscape of traditional retail, which includes unrelenting competition from online retailers and a decreasing demand for consumer electronics.
What's interesting from this deal is the partnership with Sprint. Setting up shop within surviving RadioShack locations and associating itself with a 94-year-old retailer, Sprint will most likely benefit from RadioShack's household brand—but time will only tell if it's enough to keep the name alive.