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Update: RadioShack - Game Over?

RadioShack (NYSE:RSH) has been in an extremely difficult position in the last couple of years, and unfortunately, failed to dig itself out of the ditch. With sales deteriorating for almost three years straight, and no fundamentally positive impulses from this year's holiday period, it now looks as if the embattled retailer is about to close shop sooner rather than later. Media reports and heavy price action on Monday suggested that the retailer is preparing for a bankruptcy filing, which will most likely wipe out existing…