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RadioShack Is Preparing To File For Bankruptcy

The sign outside the RadioShack store is seen in Westminster, Colorado December 11, 2014. REUTERS/Rick WilkingBusiness Insider

(Reuters) – Electronics retailer RadioShack Corp <rsh.n> might prepare to file for bankruptcy protection by next month, the Wall Street Journal reported citing people familiar with the matter.

Texas-based Radioshack is in talks with a private-equity firm that could buy its assets out of bankruptcy, the Journal reported, citing sources.

The talks may not produce a deal, and RadioShack may opt for other debt-restructuring options that do not include a sale, the Journal said.  

RadioShack has reached out to potential lenders that could provide a loan to fund its operations during the bankruptcy case, the Journal added.

RadioShack was not immediately available for comment.

The retailer, which reported a bigger-than-expected third-quarter loss last month, warned in September that a bankruptcy filing was a possibility.

Salus Capital Partners had said it would provide $500 million to RadioShack in a kind of debtor-in-possession loan used by companies to fund operations in bankruptcy, the Wall Street Journal previously reported.

RadioShack’s shares have fallen nearly 60 percent since its bankruptcy warning through Tuesday’s close.

 

(Reporting by Anet Josline Pinto in Bengaluru; editing by Andrew Hay)

Read more: http://www.businessinsider.com/r-radioshack-prepares-to-file-for-bankruptcy-wsj-2015-1#ixzz3OwbfvUbK

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4 Responses to RadioShack Is Preparing To File For Bankruptcy

  1. NC says:

    First Debs, then a casino and now Radio Shack. And it’s only been two weeks into the year. Watch 20 or more tumble into bankruptcy by the summer. Maybe even JCPenneys and BestBuy or even Sears.

  2. NC says:

    “The retailer, which reported a bigger-than-expected third-quarter loss last month, warned in September that a bankruptcy filing was a possibility.”

    But…but…I thought the economy was booming? 🙄 (sarcasm)

  3. MARKWW says:

    Radio Shack has gone down by themselves for selling CRAP in the stores. Used to be Great when first opened but the company went down hill doesn’t sell radios like they used too or electronic parts that are good THEY BUY REALLY CHEAP AND CRAPPY stuff that is OVER PRICED

    RS wanted to keep up with the KIDS and trends now selling phones. And many things no one wants. The stores are too small they can’t stock products. EMPLOYESS do not know what they are selling Just ask one how a Resister works, or something along the line of Radios. I bought coax from them for a ham radio and it BUBBLED UP CHEAP STUFF IT BURNT through on 100 watts on my radio and it was rated for higher wattage.
    RS YOU DID IT BY SMOKE AND MIRRORS SELLING USELESS CHEAP JUNK. I know cause I worked at a store and some employees short the cash drawers cause they steal and blame it on the employee. They tried it with me and I went to Security and they did nothing cause the store made money so they have bad people in the store count money badly and then steal and say oh your responsible when there are at least 3 people working the till.

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