The end is near for RadioShack. It seems inevitable that the once seemingly ubiquitous electronics and cell phone retailer will liquidate its assets, after which RadioShack would cease to exist. A number of legal steps would come first, including a likely bankruptcy filing. The New York Stock Exchange (NYSE) delisted RadioShack on February 2, after the company failed to provide a plan to address a lack of compliance with NYSE rules related to maintenance of company value. BloombergBusiness has reported that behind-the-scenes talks are under way to sell approximately half of RadioShack’s owned-and-operated stores to Sprint and shutter the remaining outlets, although other scenarios involving other entities are possible.
The nearly century-old Fort Worth, Texas, based retailer — once a go-to shop for electronic components and, at one point, even Amateur Radio and shortwave receivers — has lost 90 percent of its value over the past year, despite efforts to refinance and modernize its stores. Before it was delisted on Monday, RadioShack’s stock was selling for just 24 cents a share.
The hedge fund Standard General LP loaned the retailer $535 million last fall and would be the lead bidder in a bankruptcy filing and debtor-in-possession financing, BloombergBusiness said.
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