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RadioShack , formerly RadioShack Corporation , is the trade name of an American retailer founded in 1921. Since 2017, General Wireless Operations Inc. has licensed the name from General Wireless IP Holdings LLC, in which Kensington Capital Holdings owns a majority stake. RadioShack operates primarily as an e-commerce website, a network of approximately 500 independently owned authorized dealer stores, and as a supplier of parts for HobbyTown. At its peak in 1999, it had operated stores under either the name RadioShack or Tandy in the United States, Mexico, United Kingdom, Australia, and Canada. While outside of those listed areas, the company had sold licenses to other companies to be able to use the RadioShack brand name in other parts of the world that had included parts of Asia, North Africa, Latin America, and the Caribbean. On February 5, 2015, RadioShack Corporation filed for Chapter 11 protection under United States bankruptcy law after 11 consecutive quarterly losses. By then, it was operating only in the United States and Latin America. On May 13, 2015, General Wireless Inc., an affiliate of Standard General, purchased the assets of the company, including the RadioShack brand and related intellectual property assets, for US$26.2 million. General Wireless Operations Inc. was created as an operating entity for the RadioShack store chain, while General Wireless IP Holdings LLC was created as holding company for the newly acquired RadioShack intellectual property assets. During RadioShack Corporation's bankruptcy filing in 2015, RadioShack Corporation sold the RadioShack brand rights to different entities around the world. Mexico-based Grupo Gigante, through its subsidiary RadioShack de México, owns the RadioShack brand within Mexico. El Salvador-based Unicomer Group owns the RadioShack brand within the rest of Latin America and the Caribbean. Egypt-based Delta RS for Trading owns the RadioShack brand within North Africa and the Middle East. General Wireless IP Holdings LLC retains rights to the RadioShack brand in all remaining territories, which is mainly in the United States since General Wireless IP Holdings never had the rights to the RadioShack brand in other parts of the world that were previously assigned to InterTAN in 1986, such as Australia. All companies are legally separate and unrelated. In March 2017, General Wireless Inc., and related subsidiaries, filed for bankruptcy, claiming its Sprint partnership was not as profitable as expected, and announcing plans to close nearly all of their company-owned stores after Memorial Day Weekend of 2017, and to shift its business primarily to online.