RadioShack looks to be on the verge of closing its doors for good after 94 years. The embattled electronics chain is currently working out a bankruptcy deal that entirely liquidates the company after it went nearly three years without turning a profit, according to reports. Half of the more than 4,000 retail locations would shut down and Sprint would take over the remainder - operating them under the telecommunications company's brand, Bloomberg reports. There is still a possibility that a last-minute buyer comes forward to rescue RadioShack, which has gone 11 quarters without positive earnings. Shutdown: Fading electronics retail chain RadioShack plans to shut down in a bankruptcy deal with Sprint, according to sources with knowledge of negotiations . Sanpower, the Chinese conglomerate that helped bring Brookstone out of bankruptcy last summer, is involved and interested in acquiring RadioShack assets, one person close to the talks said. The talks have also touched on a plan for Sprint co-branding RadioShack's retail stores, two people with knowledge of the negotiations said. Barring a deal that rescues the chain, RadioShack's closing would be the final chapter in the 94-year-old company's history. The retailer began in 1921 with a customer base largely made of ham-radio operators and maritime communications officers. In 1977, the chain released one of the first mass-produced computers, the TRS-80, in its retail stores, which led competitors Apple and Commodore for a time. The New York Times reports that the company developed a strong reputation as the place to go for gear like headphones and other peripherals. Shacking up: Sprint would take over leases on 1,300 to 2,000 locations in the reported negotiations, though other deals are on the table and there are possibilities that no deal would be reached . Losing: RadioShack Corporation has posted 11 quarters of losses, and its stock value has bottomed out, falling 90 percent to 24 cents in a year's time . What remained of the company by 2000 was all but done away with by the changing retail business of smartphones and online retailers. Hedge fund Standard General extended a rescue financing package to RadioShack in October as Joe Magnacca, who took over as CEO in 2013, attempted to overhaul the chain's retail locations. If the plan proposed comes to pass, the company will sell the leases on 1,300 to 2,000 retail locations to Sprint and close the rest. The company employs around 27,000 people. The company's stock, which has already lost 90 percent of its value in a year, ended the day Monday down 13 percent at 24 cents.
The electronics retail chain would sell 1,300 to 2,000 leases and close the rest of its 4,000 locations, according to people knowledgeable about talks .
Other plans could see another company swooping in to rescue the chain .
Sprint and RadioShack have also talked about co-branding stores, sources said .
The company's stock has lost 90 percent of its value in a year .
RadioShack looks to be on the verge of closing its doors for good after 94 years. The embattled electronics chain is currently working out a bankruptcy deal that entirely liquidates the company after it went nearly three years without turning a profit, according to reports. Half of the more than 4,000 retail locations would shut down and Sprint would take over the remainder - operating them under the telecommunications company's brand, Bloomberg reports. There is still a possibility that a last-minute buyer comes forward to rescue RadioShack, which has gone 11 quarters without positive earnings. Shutdown: Fading electronics retail chain RadioShack plans to shut down in a bankruptcy deal with Sprint, according to sources with knowledge of negotiations . Sanpower, the Chinese conglomerate that helped bring Brookstone out of bankruptcy last summer, is involved and interested in acquiring RadioShack assets, one person close to the talks said. The talks have also touched on a plan for Sprint co-branding RadioShack's retail stores, two people with knowledge of the negotiations said. Barring a deal that rescues the chain, RadioShack's closing would be the final chapter in the 94-year-old company's history. The retailer began in 1921 with a customer base largely made of ham-radio operators and maritime communications officers. In 1977, the chain released one of the first mass-produced computers, the TRS-80, in its retail stores, which led competitors Apple and Commodore for a time. The New York Times reports that the company developed a strong reputation as the place to go for gear like headphones and other peripherals. Shacking up: Sprint would take over leases on 1,300 to 2,000 locations in the reported negotiations, though other deals are on the table and there are possibilities that no deal would be reached . Losing: RadioShack Corporation has posted 11 quarters of losses, and its stock value has bottomed out, falling 90 percent to 24 cents in a year's time . What remained of the company by 2000 was all but done away with by the changing retail business of smartphones and online retailers. Hedge fund Standard General extended a rescue financing package to RadioShack in October as Joe Magnacca, who took over as CEO in 2013, attempted to overhaul the chain's retail locations. If the plan proposed comes to pass, the company will sell the leases on 1,300 to 2,000 retail locations to Sprint and close the rest. The company employs around 27,000 people. The company's stock, which has already lost 90 percent of its value in a year, ended the day Monday down 13 percent at 24 cents.
comes forward to rescue RadioShack, which has Shutdown: Fading electronics retail chain deal with Sprint, according to sources with person close to the talks said. The talks have sell the leases on 1,300 to 2,000 retail locations to Sprint and close the rest. The company's stock, which has already lost 90 percent of its value in a year, ended the day