Reginal Thomas
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RadioShack Could Be Filing For Bankruptcy


RadioShack Corp. has announced that it might need to file for bankruptcy protection if its currently cash situation gets any worse, after reporting a tenth straight quarter of losses. RadioShack is also looking into alternatives to bankruptcy such as a sale or an investment and finally liquidation as a last resort. RadioShack is currently working with its lenders and its landlords to restructure its debt and cut costs. Michael Pachter, analyst for Wedbush Securities, said "It would surprise me if we got to Nov. 1 without a bankruptcy." In the last quarter RadioShack reported same store sales dropped 20%, while total sales fell to their lowest level in 20 years.