RadioShack Will Reportedly File Bankruptcy Next Month

TWL_2015_jan_blog10After failing to raise the $100 million it needed this week to keep creditors at bay, RadioShack is reportedly preparing to file for bankruptcy. According to a Wall Street Journal report, the struggling electronics retailer is bogged down with 5,000 retail locations that are so close they are competing with each other. Compounding that problem is a significant decrease in brick-and-mortar sales as buyers flock to various online retailers. Since last March, RadioShack has tried to close 1,100 stores to help improve its financial situation. It has only had the cash to close 175 locations to date.

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Image Source: Mike Mozart