RadioShack's Successor Reportedly Prepares To File For Bankruptcy

(RTTNews) - General Wireless Operations, the joint venture between Sprint Corp (S). and former RadioShack owners, is preparing to file for bankruptcy, Bloomberg reported citing people familiar with the matter.

A filing could happen within the coming days and will probably result in liquidation. The beleaguered company, which does business as RadioShack, operates outlets within Sprint's retail locations, as well as franchising the name to other stores, the report said.

RadioShack Corp. filed for bankruptcy in 2015. The company closed about half of its 4,000 stores and sold 1,700 to creditor Standard General LP, which teamed up with Sprint to form General Wireless. The deal created 1,400 mini-stores housed in Sprint locations, plus several hundred franchised units.