The popular electronics retailer RadioShack has announced that it is close to having to file for bankruptcy, if it cannot find some form of support. Without outside aid RadioShack claims the company will not be financially able to continue operating beyond this current term. The company is discussing options with financial stakeholders and third parties. The plan so far is to close 1,100 stores. RadioShack has provided consumers with electronics and separate parts to go with those electronics for decades. Changes in technology and retailing, such as wireless business and online shopping, have contributed to the major loss of sales.
Contributor: Dominique Jolly