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Thursday, January 15, 2015

RadioShack in talks to sell leases on stores to Sprint - Bloomberg, (NYSE: RSH)

RadioShack Corp, expected to file for bankruptcy next month, is in talks to sell leases on some of its stores to telecoms operator Sprint Corp, Bloomberg said, citing a person with direct knowledge of the matter. The report did not specify the number of stores being leased.The struggling electronics retailer is seeking to emerge from bankruptcy with 2,000 to 3,000 stores, compared with the more than 4,000 it has now, the source told Bloomberg. ( was not immediately available for comment. Sprint declined to comment.Fort Worth, Texas-based RadioShack, which has done little to transform itself into a destination for mobile phone buyers, warned in September that bankruptcy filing was a possibility.

RadioShack Corporation is engaged in the retail sale of consumer electronics goods and services through the Company?s RadioShack store chain. Shares of RSH fell by 35.63% or $-0.1461/share to $0.26. In the past year, the shares have traded as low as $0.30 and as high as $2.79. On average, 2384200 shares of RSH exchange hands on a given day and today's volume is recorded at 9014075.