RadioShack Preparing To File For Bankruptcy As Soon As Next Month

[dixiegrrrrl]

(This article is only 4 paragraphs in its entirety.)

RadioShack’s march toward doom is continuing steadily on, after announcing it would close a bunch of stores, then saying it wouldn’t close as many because even that was too expensive, and telling employees it would no longer match employees’ retirement contributions as of next year, the struggling electronics retailer is reportedly getting ready to file bankruptcy papers.

The filing could come as early as next month, reports the Wall Street Journal, as RadioShack is in talks with lenders who could help provide the cash to cover its operations during the bankruptcy protection proceedings.

The company is also reportedly in talks with a private-equity firm that could be interested in buying its assets out of bankruptcy, but that deal is far from being a sure thing. RadioShack might go the more typical road of reducing its debt and restructuring its operations in bankruptcy court.

Everything could change in the next few weeks, of course, but it seems inevitable that RadioShack has to do something — it’s been bleeding cash and posting losses for 11 straight quarters.

http://consumerist.com/2015/01/15/report-radioshack-preparing-to-file-for-bankruptcy-as-soon-as-next-month/

[Cha]

1. KICK

[Douglas Carpenter]

2. wow! and once upon a time they were where you went to get the latest high tech consumer goods

[shenmue]

5. Yeah

[dixiegrrrrl]

9. I remember them from years ago, with fondness.

They were well positioned at one time.
but, as of even 10 years ago, the stores seem disorganized and tired looking and never more than one person on duty.
sorta like K_Mart looks and feels as it slowly disappears into the dirt.

[Douglas Carpenter]

11. I suppose it is a bit like being a typewriter repairman or someone who repairs fax machines

a technology that came and went

[Initech]

3. Oh no! Now where am I going to find ZZ batteries?

[edhopper]

4. They no longer have a viable business

especially since the idea that retail workers should work for shit means nobody there has any expertise.

[Logical]

6. I miss the old Radio Shack, only place to get geek stuff in the 70s/80s. Loved it then. nt

[olddots]

7. will Pay Day Loans replace them ?

probably

[kimbutgar]

8. I went into one today. Lots of clearance signs

Only one person working. They closed the one in my neighbor right after Christmas. Sad to see radio shack go. Sometimes you need parts you can find there and no where else. Like those small tv pieces.if they stayed specialty and tried not to compete with big boxes they might have survived.

[Liberal_in_LA]

10. never any customers in there

[Rex]

12. But but but...they had Hulk and Norm win last years Super Ad Bowl!

It's a shame they didn't get a hold of me years ago, I could have saved them tons of money and kept them from going to bankruptcy court.