RadioShack Corp (RSH) shares fell 18 percent on Thursday after a report that the electronics chain is considering hiring a financial adviser to help fix its balance sheet.
Citing unnamed sources, trade publication Debtwire reported that RadioShack plans to entertain pitches for a financial adviser in the coming weeks to explore a balance sheet fix as it faces a string of debt maturities, escalating cash burn and bloated inventory levels.
RadioShack was not immediately available to comment.
RadioShack shares were down 52 cents, or 18 percent, at $2.31 on the New York Stock Exchange. (Reporting by Martinne Geller in New York; Editing by Gerald E. McCormick)