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RadioShack warns of possible Ch. 11 bankruptcy

By WTOP Staff

NEW YORK (AP) — RadioShack says 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 Thursday 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.

RadioShack, which is based in Fort Worth, Texas, has been working on turning around its business for the past 18 months. 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.

RadioShack’s shares rose 10 cents to $1.03 in midday trading.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Emergency guide: What you should do to prepare for emergencies

By WTOP Staff
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