Sprint Will Take Over RadioShack Stores

A plan to salvage RadioShack by co-branding most of its 1,740 surviving stores with cellular phone provider Sprint, was approved by the US bankruptcy court on Tuesday.

Sprint Radio Shack

The remaining stores are less than half of a total of more than 4,000 that RadioShack had before going into bankruptcy in February. Founded in 1921, the chain was a go-to retailer for electronics before becoming increasingly irrelevant in the digital age.

Judge Brendan Shannon, in Delaware bankruptcy court, approved a sale of the stores to the Standard General hedge fund, which plans to keep most of them open under a deal in which Sprint will occupy one-third of each space.

Under the deal, RadioShack stores will be co-branded. They will keep selling the RadioShack merchandise, but will only carry Sprint mobile products. Stores are expected to be open in about 10 days.

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