RadioShack plans to entertain pitches for a financial advisor in the coming weeks, said two sources close to the matter and five advisory sources. Shops with capital markets capabilities and marquee restructuring practices are among the firms already invited to participate in the process, three of the sources specified.
The move to hire a banker to explore a balance sheet fix comes as the struggling electronics retailer faces a string of maturities, escalating cash burn and bloated inventory levels, the sources said. RadioShack first engaged AlixPartners for operational help over a year ago, as previously reported by Debtwire.
A company spokesperson declined to comment on the current search for an FA but did confirm that AlixPartners assists the retailer with inventory and distribution optimization. An AlixPartners representative declined comment on the engagement.