By Daniel Hunter

US electronics retailer RadioShack has filed for bankruptcy after losing more than 90% of its value and mounting debts.

Earlier this week, RadioShack had its shares suspended by the New York Stock Exchange as its financial troubles became more apparent.

In its bankruptcy filing, RadioShack said it has assets of $1.2bn, but debts of $1.38bn.

RadioShack was launched in 1921 was a mail-order retailer, but currently runs nearly 4,500 stores across the US. Around 2,400 of those will be sold to major stakeholder Standard General.

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