RadioShack Corp. is preparing to shut down the almost-century-old retail chain in a bankruptcy deal that would sell about half its store leases to Sprint Corp. and close the rest, Bloomberg News reported yesterday. The locations sold to Sprint would operate under the wireless carrier’s name, meaning RadioShack would cease to exist as a stand-alone retailer. The Chinese backers who took the Brookstone chain out of bankruptcy, Sanpower Group, also have been in discussions about bidding for RadioShack assets. The New York Stock Exchange said yesterday that it would suspend trading of the RadioShack’s stock immediately. The exchange took the step after RadioShack failed to submit a business plan that would address its lack of compliance with NYSE rules.
