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Our retail business also faces the challenge of revamping our product assortment to anticipate and meet our customers’ needs and wants to produce profitable operating margins. We continue to face an uncertain business environment and a number of fundamental challenges in our mobility business due to lack of availability of new devices launched during the period, aggressive price competition and intense wireless carrier marketing activities. Our ability to generate cash from operations depends in large part on the level of demand for our products and services. We have experienced losses for the past two years that continued to accelerate into the third quarter of fiscal 2015, primarily attributed to a prolonged downturn in our business. To put it plainly, things did not look good in that filing: Advertisement By comparison, RadioShack lost over $216 million in the first nine months of 2013. In December 2014, after RadioShack posted its most recent third fiscal quarter earnings statement, the company revealed a quarterly net loss of over $161 million-and a nearly $400 million net loss on the fiscal year to date. In a similar situation from September 2013, a smaller Kodak emerged from bankruptcy. Rather, it would mean RadioShack would be given a certain period of time to rebuild itself and shield itself from creditors.
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Further Reading RadioShack edges closer to running out of moneyIt's a move many have predicted for some time: RadioShack is probably going to file for bankruptcy protection.Īccording to a Wall Street Journalreport citing unnamed sources, the cash-poor retailer could submit its filing as soon as February 2015. A RadioShack spokesperson e-mailed Ars to say, "We decline to comment except to say that RadioShack has not confirmed any of the information that is being reported." The Texas-based firm did not deny the Journal’s report, however.īankruptcy protection wouldn't necessarily mean that RadioShack intends to go out of business.