RadioShack Might Downgrade To Real Shack
If I were down to my last $62 million in cash, I’d be upset but could somehow squeak by.
RadioShack, on the other hand, might soon be looking for a tin cup and a shady street corner.
A recent CNNMoney article shared the shaky financials of RadioShack in a story headlined “RadioShack’s days are numbered.“
The article says the chain of 4,000 stores is down to its last $62 million and is “rapidly approaching zero.”
“Things are so dire that it actually doesn’t have enough money to close the 1,100 locations management says it needs to shutter,” the article says.
RadioShack is headquartered in Fort Worth, but even locals have pretty much given up on the most outdated chain around.
If you’ve got stock in RadioShack, well, you’ve got little to nothing — shares that sold for about $25 a few years ago are now trading at about 60 cents.
Moody’s Investor Services predicts RadioShack will run out of money in a year.