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RadioShack files for bankruptcy

RadioShack, which was once an electronics store staple, has now filed for chapter 11 bankruptcy.

RadioShack filed the papers on Thursday, devising a plan to close 4,000 stores, and sell off as many as 2,500 other locations.

Wireless company Sprint has expressed interest to turn over 1,700 of those locations into Sprint Stores. RadioShack’s bankruptcy marks an end to almost a century in business.

The company, which employs over 27,000 people, hasn’t turned a profit in over 11 years, unable to keep up with the growing popularity of online shopping.