RadioShack Corp. is planning to file for bankruptcy and sell half of its stores to Sprint Corp., people "with knowledge of the discussions" told Bloomberg.
RadioShack currently operates more than 4,000 stores. According to Bloomberg's sources, the stores not sold to Sprint will be closed. The Sprint-owned stores, meanwhile, will operate under the Sprint name, and RadioShack would no longer exist as a stand-alone store.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
However, Bloomberg adds that the deal isn't finalized and could still fall through. Late Monday, the New York Stock Exchange announced that it would suspend trading in RadioShack's shares.
-
Trump accuses Democrats of sedition meriting ‘death’Speed Read The president called for Democratic lawmakers to be arrested for urging the military to refuse illegal orders
-
Political cartoons for November 21Cartoons Friday’s political cartoons include Epstein Files review, oil rigs, Jamal Khashoggi's assassination, and more
-
The $100mn scandal undermining Volodymyr ZelenskyyIn the Spotlight As Russia continues to vent its military aggression on Ukraine, ‘corruption scandals are weakening the domestic front’
-
US mints final penny after 232-year runSpeed Read Production of the one-cent coin has ended
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
