Friday, September 12, 2014

RadioShack Warns Of Bankruptcy Option

Fort Worth-based RadioShack--citing a decline in consumer electronics and a soft mobility market--said it is potentially facing a bankruptcy filing, if it is unable to find a buyer or agree to restructuring with its lenders, bondholders, shareholders and landlords. RadioShack said it is looking at debt restructuring, cutting stores, and making "significant reductions" in its cost structure, as it saw a significant drop in sales in the second quarter.