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RadioShack files for bankruptcy for second time in 2 years

iStock/Thinkstock(FORT WORTH, Texas) -- RadioShack has filed for bankruptcy for the second time in just over 2 years.

The Texas based electronics retailer filed the petition in bankruptcy in Delaware on Wednesday.

The company announced the filing in a press release, saying they would close 200 stores and are continuing to evaluate the future of its other 1,300 stores.

RadioShack's President and Chief Executive Officer Dene Rogers said despite cutting costs and restructuring after their first bankruptcy filing, sales were not as high as expected, specifically the Sprint managed the mobility business.

Sprint released a separate press release regarding the matter.

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