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"RadioShack’s comeback effort ‘highly in doubt,’ UBS says" Bloomberg News August 13, 2014
NEW YORK — RadioShack Corp.’s turnaround is ‘‘highly in doubt’’ and remodeled stores are unlikely to change the electronics chain’s tarnished reputation, a report from UBS says.
The company’s effort to revamp its shops and product lineup ‘‘has been akin to throwing things against the wall to see what sticks,’’ Michael Lasser, a UBS analyst in New York, wrote in the report, issued Monday....
Since taking over last year, chief executive Joe Magnacca has struggled to stem losses. Creditors blocked a plan to close 1,100 stores earlier this year, and the company’s stock is in danger of being delisted.
It also faces a credit crunch, Lasser said. At the end of last quarter, RadioShack had almost $62 million in cash and about $362 million available under a credit line that comes due in 2018, versus total debt of $614.5 million. ‘‘The company is running in a perilous position with dwindling financial flexibility,’’ he said.
RadioShack declined to comment.
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Related: Tuning Out RadioShack
If you haven't noticed, I'm also tuning out someone else.
