September 12, 2014
RadioShack’s future in Maine unclear
The future of RadioShack’s 35 stores in Maine is up in the air after the company announced this week that it may file for bankruptcy.
The Los Angeles Times reported that RadioShack said in a recent SEC filing it may have to file for Chapter 11 bankruptcy if it fails to restructure its debt, consolidate stores or sell the company, among other possible options for a turnaround plan.
The company recently posted a $137.4 million loss for the second quarter, nearly triple the loss it experienced during the same period last year, the newspaper said. Revenue also dipped by 22% to $673.8 million in the same quarter.
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