US electronics retailer RadioShack files for bankruptcy
February 6 , 2015
In an expected move, American firm RadioShack has filed for bankruptcy.
The electronics retailer has lost over 90% of its value in recent years, reports said.
According to the court filing at Delaware, it has assets worth $1.2 billion and its debt amount to $1.38 billion.
RadioShack first opened nearly a century ago, and today runs more than 4,400 stores in the US selling a variety of electronic goods including power cables and phone accessories. But it has seen a steady decline and failed to attract new customers.