The events that will determine RadioShack's future are unfolding quickly. Pressures continued to mount for the Fort Worth, Texas-based retailer to file bankruptcy, according to reports Monday. The speculation centers on whether the 94-year-old retailer is preparing to shut down its business or has a chance at a court-supervised reorganization. RadioShack hasn't confirmed that it's closing stores, but the signs are there. The company made no announcements Monday, but its lenders, led by Salus Capital Partners, sent the company a second default notice on its $250 million loan.
RadioShack on Tuesday reported a wider loss and said it may have to reduce the headcount at its corporate office in Fort Worth as it tries to cut costs. Mobile phone sales continue to be weak and new products in the pipeline won't be in stores until
RadioShack has entered the smartphone and tablet repair business. The Fort Worth-based retailer thinks it can increase traffic to its stores by becoming the first national chain to provide in-store, same-day service on popular mobile devices. Some repairs will be done in an hour or even while a customer waits. "Fix It Here!" stations have been added to more than 284 company and franchise stores as part of a pilot program. Results are encouraging enough to expand it to 700 stores by year-end, said CEO Joe Magnacca.
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