RadioShack may seek bankruptcy protection
Posted on Thursday, September 25th, 2014 at 3:30 pm
Electronic retailer store RadioShack is considering filing for bankruptcy protection after revealing another quarterly loss, The New York Times reported on September 11.
According to reports, the company is quickly running out of funds to sustain its operations. RadioShack stated that though they already have coordinated with financial stakeholders and other parties for possible funding options, they are unsure if it will work and may lead them to file for Chapter 11 bankruptcy. RadioShack’s revenue in the second quarter reportedly plummeted by 22 percent. Over the past year and a half, the company has attempted to re-structure itself but bankruptcy, or even liquidation, appears to be imminent.
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