NEW YORK -- RadioShack warned Thursday that it may need to file for Chapter 11 bankruptcy reorganization if it can't rework its debt or find another way to ease a cash crunch.
The struggling retailer said in a regulatory filing that it is in talks with its lenders, bondholders, shareholders and landlords to fix its balance sheet, but if it can't, it will try to file a prepackaged bankruptcy.
The company's efforts have included cutting costs, renovating and closing stores, and shuffling management. It reported another quarterly loss on Thursday on lower revenue.
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1 comment:
I'm sure Best Buy and HH Greg won't be far behind.
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