RadioShack In Talks To Sell Stores To Sprint : Report

(RTTNews) - RadioShack Corp. (RSH), which is preparing for a bankruptcy filing, is in talks with Sprint Corp. (S) to sell leases on some of its stores to the wireless carrier, Bloomberg reported citing o a person famillar with matter.

The court restructuring would allow RadioShack to emerge with a leaner business after a migration of consumers to the Internet left it with 11 straight quarterly losses and depleted its cash.

Under the developing plan, RadioShack reportedly, would seek to complete a bankruptcy reorganization with 2,000 to 3,000 stores, compared with the more than 4,000 it now has, said the person. The company also has been reaching out to potential lenders for a loan that would finance its operations during court proceedings.

On Wednesday, Wall Street Journal reported that the beleaguered consumer electronics retailer is priming to file for bankruptcy protection as early as the beginning of February after its efforts to improve cash position failed.

RSH closed Thursday's regular trading session at $0.264, down $0.146 or 35.63%.