In a regulatory filing the retailer said that it will abandon its plan to close 1,100 after running into issues during discussions with its lenders. "The terms on which the lenders are currently willing to provide this consent are not acceptable to the company," RadioShack said in the filing.
While it won't close the number of stores it originally plans, RadioShack said it is "continuing with a plan to close fewer stores and pursuing other cost reduction measures permitted under the existing terms of the 2018 Credit Agreement and 2018 Term Loan."
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TheStreet Ratings team rates RADIOSHACK CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate RADIOSHACK CORP (RSH) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, poor profit margins and weak operating cash flow."