Wall Street analysts, the people who make big bucks keeping track of these things, say that bankruptcy for Wall Street is probably inevitable. They were saying that after the retailer announced its quarterly results yesterday, losing money for the tenth straight quarter in a row.
“Wait,” you say. “RadioShack has only been losing money for two and a half years?” We were surprised, too. The company’s efforts to transform itself into a one-stop retailer for all mobile phones and plans hasn’t worked out, maybe because they alienated the customers they did have by selling them crappy “replacement plans.”
What RadioShack really needs to do is close hundreds of stores, but current agreements with creditors prevent them from doing that.
RadioShack reports Q2 sales down 20%, says bankruptcy may be necessary [Dallas Morning News]
Analyst on RadioShack: Bankruptcy Is ‘Imminent’ [Wall Street Journal]
by Laura Northrup via Consumerist
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