RadioShack Hires Advisory Firm, Which Comes with Interim CFO

December 16, 2014

RadioShack Corp. said that it hired an advisory and management services firm days after the company again warned that it could be forced to seek bankruptcy protection and to possibly liquidate, the Wall Street Journal reported today. The company, in a filing today, said that it reached an agreement for advisory and interim management services with FTI Consulting yesterday. As part of the agreement, Carlin Adrianopoli, who has served in FTI’s corporate finance and restructuring practice since 2010, will take over as the struggling electronics chain’s interim chief financial officer. He replaces Holly Etlin in that role.

RadioShack Again Warns of Bankruptcy Risk

December 15, 2014

RadioShack Corp. said that it could be forced to seek bankruptcy protection leading to a possible liquidation, as the struggling electronics chain tries to turn around its money-losing operation, Dow Jones Newswire reported on Friday. The company made the warning as it registered a potential rights offering with securities regulators. That offering is part of a rescue package which hedge fund Standard General LP put together in October. As part of that plan, Standard General would convert some of its debt into equity in the company, depending largely on how well RadioShack performs over the holidays. "If we fail to meet certain conditions of the recapitalization plan, we may be required to seek to implement in-court bankruptcy proceedings," RadioShack said in filings with securities regulators.