RadioShack Corp (NYSE: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.
Continue Reading Below
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)