Radioshack has officially declared Chapter 11 bankruptcy, one week after being removed from the New York Stock Exchange.

The fate of Radioshack has been known for a while, considering the electronics retailer has not made a profit since 2011. The original plan was to shut down 1,100 stores and reform the brand, but investors lost hope before the managers were able to make the changes.

Like Us on Facebook

Radioshack will sell 2,400 stores as part of the bankruptcy, alongside various electronics in an auction sale, raising money to pay back any debts owed.

Sprint has already made a move for 1,750 stores, which will be allowed if the Radioshack deal is approved by the bankruptcy court. Sprint will still allow Radioshack to operate under its own brand, but Sprint will take over one-third of the store for carrier sales.

The other 650 stores could be subject to auction or closure, depending on the interest. Financial advisor Standard General is reportedly looking into acquiring some of the Radioshack stores.

There is also a rumor that Amazon will acquire some of Radioshack's stores, as a new way for customers to collect Amazon packages and not pay for the delivery charge.

It would also work for Amazon as smaller fulfillment centers, based in the local area. Amazon has not responded to comment on the possibility of buying Radioshack stores.

Amazon would not be the first Internet company to dip its hand in retail. Microsoft and Apple both own retail stores to sell their own gadgets, and Google was working on a barge for more than a year before it was cancelled for safety reasons.

The e-commerce giant is also already working on a large collection center in Manhattan, New York, allowing customers to collect goods and return faulty deliveries.

TagsRadioShack, Sprint, Amazon, retail stores, electronics stores, U.S. companies