RadioShack is said to be heading for possible bankruptcy following its recent suspension from the New York Stock Exchange.
The embattled electronics chain is trading below $0.25 a share and the company's overall stock has lost about 90 percent of its value within the last year.
"Up until the early 2000's, they were riding tremendous momentum, and they kept opening more and more stores," Robin Lewis, a retail expert and co-author of The New Rules of Retail, told CNN.
"They didn't understand how a lot of their business could be taken away by Amazon. And even if they had time and money to close stores, they haven't done enough to differentiate themselves from other places you can buy a smartphone."
Amazon and Sprint have both publically expressed interest in purchasing several RadioShack locations and using them as centers for mobile device sales. There are reportedly 4,000 retail stores in the United States that may be acquired by predecessors.
A possible acquisition of store locations by Amazon and Sprint would also help RadioShack officials with liquidation fees and would better assist them in their battle with financial lenders. Although deals with both companies have not been confirmed, they are said to be likely, given RadioShack's precarious situation.
RadioShack was founded in 1921 in Fort Worth, Texas.
