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CNN story paints grim picture for RadioShack
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Do you think RadioShack can turn its financial troubles around and return to profitability?According to a story that was posted to the CNNMoney website on Thursday, such a turnaround is highly unlikely, several sources were quoted as saying.“If they’re not the sickest patient in ICU, they’re minutes away from being rolled in,” said Robin Lewis, CEO of The Robin Report, a retail strategy newsletter.Added Moody’s analyst Mickey Chadha, “A significant turnaround has to happen for them to survive. But we haven’t seen any evidence of a turnaround yet.” Moody’s now has RadioShack debt only two short steps above a default rating as the chain of 4,000 stores has just $62 million in cash left -- a figure rapidly approaching zero.