An electronics store chain that was once very popular in Iowa may soon vanish — or become more scarce. Officials at Radio Shack are talking with lenders, bond holders, shareholders and landlords as they work to fix the balance sheet.
The company may need to file for Chapter 11 bankruptcy reorganization depending on the outcome of those talks. Radio Shack has more than 30 stores in Iowa. If the company can’t get into the black ink, it will likely file what’s called a pre-packaged bankruptcy. The company has been cutting costs, closing stores and shuffling management, but still reported another quarterly loss on Thursday.
