RadioShack files for bankruptcy a second time in 2 years

Shack store in Dallas. Troubled electronics retailer Radio Shack has filed for bankruptcy for the second time in just over two years

With RadioShack filing for Chapter 11 bankruptcy and closing 1,500 stores, it's likely Staten Island's two Radio Shacks are on the hit list, according to a Radio Shack employee.

The electronics chain now operates 10 stores in Western Mass., and one store in Worcester and over 30 in the eastern part of the state.

General Wireless was created in 2016, after RadioShack filed for bankruptcy the first time.

"We evaluated the performance and location of Sprint-RadioShack stores and reached an agreement with General Wireless Operations to convert several hundred doors into Sprint corporate-owned stores".

Sprint began pulling its wireless product displays from some RadioShack stores in recent days in a sigbn that the partnership was crumbling.

General Wireless announced on Thursday that it will be filing for bankruptcy in Delaware.

The store's website said 185 RadioShack's are closing this week.

"(Radio Shack) and its advisors are now exploring all available strategic alternatives to maximize value for creditors, including the possibility of keeping stores open on an ongoing basis", Radio Shack said in a release announcing the bankruptcy filing. The Sprint partnership also was meant to give the stores an edge.

The company said it has cut costs and stabilized operations since its 2015 bankruptcy. Amazon accounted for a whopping 90% of the $5.6 billion growth in USA consumer electronics in 2015 according to a note from Deutsche Bank analysts a year ago. But RadioShack CEO Dean Rogers indicated that effort had failed, even though the company reduced operating expenses by 23% previous year while increasing gross profit by 8%. "In an age of growing competition from online retailers such as Amazon, traditional brick-and-mortar stores are in trouble", CNN Money noted.