RadioShack running out of cash to close #makerbusiness
Time is running out for RadioShack.
RadioShack has made it through its 94th Christmas. But its chances of surviving another year are very much in doubt.
The company is saddled with more than 5,000 stores, many of which it can’t afford to keep open.
Unfortunately for Radio Shack, the company is so cash-strapped that it can’t afford to close them, either.
Closing stores is an expensive undertaking. It requires cash for paying severance, liquidating merchandise and paying penalties to exit leases early.
Read more… the 401k issues are not going help either – see our previous posts here.
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