Friday, October 31, 2014

RadioShack Hires GM Turnaround Expert

Struggling Fort Worth-based electronics retailer RadioShack said this week that it has hired turnaround advisory firm The MAEVA Group to help the company with its operational and financial turnaround, and appointed MAEVA founder Harry J. Wilson as its new Chief Revitalization Officer. Wilson was most recently senior advisor in the United States Department of the Treasury, and headed up the US restructuring of General Motors and Chrysler. RadioShack has been in a struggle to stave off bankruptcy, most recently getting a $120M debt funding from a g of lenders to get it through the holiday season. RadioShack appears to be hoping to use the holidays--where most retailers generate most of their profits--to keep it solvent.