Dallas, Texas 02/25/2014 (FINANCIALSTRENDS) – RadioShack Corporation (NYSE:RSH) is one of the leading retailers of consumer electronic goods. The company is however now working on restructuring itself and has in the first week of February announced that it will move forward with the closing down of over 500 sores.
RadioShack Corporation(NYSE:RSH) currently operates over 4,300 stores of which the 500 of these are in various stages of demolition. Following this the company has seen a fall in the share prices as well.
RadioShack Corporation(NYSE:RSH) has been a long time retailer with Fort Worth headquarters serving the electronics consumer giant. However, all this is set to chain. The company is expected to move forward from its traditional knowledge base to a more sophisticated and modern format. The company which has thus far been providing various entertainment gadgets will therefore see that the demand for these will grow as the online version.
RadioShack Corporation(NYSE:RSH) was also way laid with financial woes. This included debt to the tune of $625 million. Since the company has secured over $835 million, from GE Capital, which is the financial services arm of the electronic s major GE, RSH is expected to refinance debts.
RadioShack Corporation(NYSE:RSH) will also rework its entire structures with the new funds now available. The problem for this once success story in electronic gadgets has seen a fall in the number of footprints and fall in sales figures. The company executives have always reiterated the number of stores overall for RSH will remain in the ball park of 4000 and more. However, the stores which are not performers and bring in additional stores in the higher traffic areas. The previous shopping season had seen nearly most of the electronic gadgets consumers lose margins and this has led to fall in revenues. RadioShack Corporation(NYSE:RSH) has since acquired a new CFO, John W. Feray who was with Dollar General Corp earlier.