Posted on 01/15/2015 6:29:03 AM PST by Red Badger
Struggling to raise enough cash and credit to stay alive, RadioShack is reportedly preparing to file for bankruptcy as soon as next month.
The filing could come the first week of February, according to the Wall Street Journal. RadioShack declined to comment for this story.
The company had a deadline of Jan. 15 to come up with $100 million in combined cash and available credit, or its major creditors can pull the plug on the long-term financing it needs to survive. RadioShack only had $63 million available heading into the Christmas shopping season.
The struggling electronics retailer has been trying to close 1,100 of its 5,000 stores since March, but it's an expensive undertaking. It only came up with enough cash to close 175 stores through the end of October.
(Excerpt) Read more at money.cnn.com ...
He he he.
No but i do wish i had patented the gizmo. Just to have the wallpaper.
Anything that stopped being produced is a collectors items see auctions and other placed that draw in thousands.
Radio equipment has a huge mass got wake up.
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