By Noel Young

Electronics retailer Radio Shack is to close about 1,100 poorly performing stores, roughly 20% of the firm’s American locations.

The store closings will leave about 4,000 locations in the U.S. where the company has been struggling to revamp its stores for the past year.

Poor fourth quarter figures were the last straw.

Total revenues were $935.4 million , compared with . $1,171.4 million in the same quarter last year, a 20% decline.

Comparable store sales were down 19%, The company blames the drop on poor performance in its mobile phone business.

Radio Shack shares down more than 20% in Read full story ›

Source: The Drum