RadioShack is bringing in an adviser in the midst of another round of cost cuts as the troubled electronics retailer warned last week that it may have to seek bankruptcy protection.
RadioShack’s third-quarter loss widened, sales dropped for the eleventh consecutive quarter, and the electronics retailer announced more cost cuts to stay afloat.
RadioShack has hired former Treasury Department adviser Harry J. Wilson to help with its turnaround efforts.
RadioShack says it has inked deals with a group of investors to restructure part of its debt and access funds, moves aimed at giving the struggling consumer electronics retailer more financial breathing room.
RadioShack says it may need more capital to help complete its turnaround efforts.
RadioShack’s first-quarter loss has widened and revenue slumped as the Fort Worth based retailer dealt with weakness in its mobile business and consumer electronics.
RadioShack plans to close up to 1,100 of its underperforming stores in the U.S. and reported a wider loss for its fourth quarter as traffic slowed during the critical holiday season.
Fort Worth-based Radioshack is closing more than 10 percent of its stores.
RadioShack’s net loss widened as the electronics retailer works on a turnaround plan. RadioShack has been cutting costs, shuffling management and updating stores.
The former AT&T employee found guilty of acquiring hundreds of stolen cell phones, to sell on Craigslist and Ebay, is heading to prison.
RadioShack says its second-quarter loss widened as the struggling electronics retailer implements a turnaround plan.
RadioShack lost $63.3 million in its fiscal fourth quarter — pressured by weaker mobile sales. The struggling Fort Worth electronics chain said it is looking to rebuild.