NEW YORK (TheStreet) -- Embattled electronics retailer RadioShack (RSH) filed for Chapter 11 bankruptcy on Thursday, a move that was largely expected and comes as the struggling chain plans to sell up to 2,400 stores, according to an NBC News report.
Under Chapter 11 bankruptcy protection, companies can keep creditors at bay while it seeks to reorganize its operations and emerge from its dire straits. But should RadioShack fail to successfully execute its bankruptcy recovery plan, it could ultimately liquidate all of its operations.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.