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April 17, 2014
13:45 EDTRSHRadioShack falls after report that lender talks complicating turnaround
Electronics retailer RadioShack (RSH) is trading significantly lower today after a report that the company's turnaround efforts are being hampered by discussions with lenders. WHAT'S NEW: According to the Wall Street Journal, RadioShack is in heated talks with its lenders over the company's plan to close as many as 1,100 of its 4,300 U.S. stores. On March 4, RadioShack said that it expects to close up to 1,100 stores in the U.S. RadioShack CEO Joseph C. Magnacca said, "Over the past few months, we have undertaken a comprehensive review of our portfolio from many angles... in order to consolidate our store base into fewer locations while maintaining a strong presence in each market. The result of that review is our plan to close up to 1,100 underperforming stores." WHAT'S NOTABLE: According to the Wall Street Journal report, RadioShack is moving forward with its store closings plan but is currently targeting just 200 stores, while some lenders are pushing for as many as 2,000 closings. PRICE ACTION: RadioShack shares are off by 33c, or almost 20%, to $1.36 in afternoon trading.
News For RSH From The Last 14 Days
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October 30, 2014
18:45 EDTRSHSalus Capital looks to increase RadioShack debt, Bloomberg says
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October 29, 2014
09:00 EDTRSHRadioShack names Harry Wilson as Chief Revitilization Officer
Harry J. Wilson, founder and CEO of The MAEVA Group, will serve as the Chief Revitalization Officer of RadioShack, reporting to RadioShack CEO Joe Magnacca and the RadioShack Board.
08:08 EDTRSHRadioShack announces MAEVA Group to provide advisory services
RadioShack announced that The MAEVA Group will provide advisory services to RadioShack's board and management as the Company moves forward with its operational and financial turnaround.

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