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.
See Full Article: ARRL.org
16-year-old radio amateur Julián Fernández EA4HCD was interviewed by the newspaper El Mundo Chronicle about his FossaSat-1PocketQube satellite. A Goog... Read more
Amateur Radio Emergency Service (ARES®) volunteers in the Maryland-DC Section activated in the wake of regional flash flooding on May 27. Hit especial... Read more
Warning: file_get_contents(https://plusone.google.com/_/+1/fastbutton?url=https%3A%2F%2Fqrznow.com%2Fradioshack-s-long-slow-downward-slide-nears-end%2F): failed to open stream: HTTP request failed! HTTP/1.0 404 Not Found in /home/qrznow/public_html/wp-content/themes/goodnews5/framework/functions/posts_share.php on line 151