It’s official: RadioShack finally files for bankruptcy protection | Ars Technica

Cyrus Farivar:

The company’s Thursday court filing states that it has over $1.3 billion in liabilities, with $1.2 billion assets. In the wake of the filing, the company will close about half of its existing stores, and will indeed sell the remaining (as had been rumored) half to Sprint.

Bankruptcy protection wouldn’t necessarily mean that RadioShack intends to go out of business. Rather, it would mean RadioShack would be given a certain period of time to rebuild itself and shield itself from creditors. In a similar situation from September 2013, a smaller Kodak emerged from bankruptcy.

I’m impressed it held on for this long, given the constant doom and gloom in he press.