Beleaguered electronics retailer inches closer to reorganization

RadioShack is entering the latest chapter in its ongoing financial saga — but on a positive note.



On Thursday, RadioShack’s Chapter 11 bankruptcy plan cleared a preliminary court review. This decision enables the retailer to move forward with its strategy to reorganize, and save a small portion of the company, according to Dealerscope.



As originally reported by the Wall Street Journal, the reorganized company will be composed of online operations, a major network of independent dealers, and somewhere between “zero and 28” company-owned brick-and-mortar retail locations. Yet, this plan still hinges on the outcome of a lawsuit that RadioShack filed against Sprint back in June.



RadioShack filed for bankruptcy protection in March, its second filing in just over two years. To date, less than 30 company-owned stores remain in operation — down from more than 4,400 prior to its first bankruptcy filing in 2015.



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