RadioShack said to be planning to file for bankruptcy
It is closing in on an agreement with creditors and other parties
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New York
RADIOSHACK Corp is closing in on an agreement with creditors and other parties that would put the retailer in bankruptcy soon, people with knowledge of the discussions said.
As part of the deal being completed, RadioShack would sell leases on as many as 2,000 stores to Sprint Corp and Standard General, its largest shareholder, according to the people, who asked not to be identified because the talks are private. The rest of the electronics chain's more than 4,000 US locations are expected to be closed, the people said. The filing could be delayed as the parties hammer out final details.
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