Pulling the Plug: FW-Based Radio Shack Files for Bankruptcy

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

FORT WORTH, TX -- It's official. Nearly a century after opening its first store, Radio Shack filed for bankruptcy Thursday.

It struck a deal to sell up to 2,400 of its approximately 4,000 stores. Wireless company Sprint will create a “store within a store” in up to 1,750 of those.

RadioShack said the remaining stores are expected to close.

The bankruptcy announcement is no surprise. The New York Stock Exchange suspended trading of its shares on Monday. And RadioShack workers have told CNNMoney that some locations have already been converted to clearance stores.