RadioShack Files for Chapter 11 Bankruptcy

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Radioshack, the struggling 94-year-old electronics chain, filed for bankruptcy protection on Thursday after making a deal to sell up to 2,400 of its stores to Sprint and Standard General, a hedge fund that is its biggest shareholder, the New York Times reports. Standard General is the same hedge fund that owns a large stake in downtown L.A.’s American Apparel Inc.

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