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US electronics retailer RadioShack files for bankruptcy

  • 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.

    Tagged as: US firm RadioShack, RadioShack bankruptcy, RadioShack electronics, RadioShack debt, business news