RadioShack to close up to 1,100 stores

RadioShack Corp. said Tuesday that it expects to close up to 1,100 U.S. stores, or about 20 percent of its footprint, while also reporting its fourth-quarter loss widened significantly.

RadioShack was expected to close about 500 stores, but upped the figure. After the closures, the chain would continue to operates some 4,000 stores in the U.S., according to the Wall Street Journal.

The company recorded a net loss of $191.4 million in the fourth quarter, compared to a loss of $63.3 million in the same quarter a year earlier.

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