RadioShack Has Filed For Bankruptcy….. Again

It’s been only a little over two years since RadioShack Corp filed for bankruptcy and unfortunately things did not get better for the company.

The chain first filed for bankruptcy in 2015 after big box competitors like Amazon.com and Best Buy stole the show in the mobile market.

The U.S. electronics retailer just filed again on Wednesday. Not too surprising considering it’s been a tough retail environment and the partnership with wireless company Sprint Corp. isn’t going that well.

“The Sprint relationship did not yield the benefits” RadioShack was anticipating, it said.

RadioShack, who is owned by Wireless Operations Inc., has been trying to revitalize its business and has co-branded stores with Sprint to compete against larger rivals.

In the newest Chapter 11 bankruptcy filing, General Wireless listed assets and liabilities in the range of $100 million to $500 million in the U.S. bankruptcy court for the Delaware district.

The company announced in a statement that it would be closing approximately 200 stores and will evaluate options on the remaining 1,300.

Sprint made their own separate announcement and said that the company will convert several hundred locations into Sprint corporate-owned stores.

Sprint also added that RadioShack’s bankruptcy filing and subsequent store closings are not material to Sprint’s overall sales results.