| To: The Ox who wrote (3452) | 7/11/2013 1:12:03 PM | | From: richardred | | | | | Thanks, I don't care what they say now a days. Cash is still king in my book. Just keeping plenty of powder dry before I leave. For the most part, I'm an early bird. Many times I usually leave to early, but I've already got my worm. So now I can fly south, actually North. There's always time to join the flock and adjust to whatever conditions may be present down the road. There's usually some special situation that presents itself using one of many investing strategies. Still about 50% equities. |
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| From: Glenn Petersen | 7/11/2013 11:22:06 PM | | | | | | A sale of RadioShack is inevitable. The only question now is the price. Higher or lower?
RadioShack reportedly calling in the investment banks
Reuters
5:45 p.m. CDT, July 11, 2013
A trade publication is reporting that RadioShack Corp. is considering hiring a financial adviser as debt comes due and sales are falling.
Shares in the electronic retailer fell 7 percent on Thursday on the report.
Citing unidentified sources, trade publication Debtwire said RadioShack faces looming debt maturities, escalating cash burn and bloated inventories.
"Like many companies, we have discussions with investment banks to help us evaluate ways to further strengthen our balance sheet and manage it efficiently," company spokesman Kirk Brewer said. "That has been the sole focus of these discussions."
The retailer has $216.4 million of convertible notes that come due Aug. 1, it said in an April 24 securities filing. The company also reported $434.9 million in cash and said it could access $384.9 million under a credit facility.
The operator of more than 4,000 stores has struggled with falling sales that have weighed on its profits. Sales fell 7.6 percent in the first quarter of 2013 from a year earlier as it shuttered weaker stores and faced stiff competition from online retailers.
RadioShack brought in turnaround firm AlixPartners last year to provide advice with inventory and distribution, according to Debtwire.
RadioShack, whose shares hit a 52-week high of $4.28 per share in May, closed down more than 7 percent at $2.63 on Thursday. They had gone as low as $2.19 earlier in the day on the New York Stock Exchange.
chicagotribune.com |
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