RadioShack’s owner is preparing to seek bankruptcy protection for the second time in as many years as the 1,500-store chain looks to further shrink to survive, the Wall Street Journal reported today. Parent company General Wireless Operations Inc. is in discussions with partner Sprint Corp. and potential strategic investors about reducing the chain’s footprint and could file for chapter 11 protection as soon as today. Sprint operates sections in many RadioShack stores that sell its wireless service and smartphones. The Fort Worth, Texas, company in recent weeks laid off dozens of headquarters employees and has already started closing roughly 200 stores. A spokesman for hedge fund Standard General LP, the company’s majority investor, declined to comment.
