But some locations could live on, thanks to a deal with Sprint and hedge fund Standard General.
Last year Standard General led a group of investors loaned RadioShack more than half a billion dollars to help keep the company afloat. Apparently that wasn’t enough.
Now Standard General is the retailer’s largest shareholder and the hedge fund’s subsidiary General Wireless has reached a deal with Sprint that could keep some of RadioShacks’s stores open even as the company files for bankruptcy.
The idea is that Sprint and General Wireless would open co-branded stores in up to 1750 RadioShack locations. They’d continue to sell RadioShack products, services, and accessories but each store would also effectively become a Sprint Store, with Sprint’s products taking up about a third of the retail space in each store.
Sprint brands including Boost Mobile and Virgin Mobile would also be represented, but don’t expect to see Verizion, AT&T, or T-Mobile products at these locations.
The deal could more than double the number of Sprint retail stores in the United States. Right now the company operates 1,100 stores.
None of these new plans will be finalized until after they’re approved by a bankruptcy court in Delaware.