RadioShack Corp., the 94-year-old consumer- electronics chain that sold the first mass-produced personal computer, filed for bankruptcy after failing to stave off competition from big-box retailers and online merchants.

The company said Thursday that it has an agreement to sell 1,500 to 2,400 of its stores to a unit of Standard General LP, its biggest shareholder. Standard General has a deal with Sprint Corp. to set up stores-within-stores at as many as 1,750 locations.

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