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Thursday, April 15, 2021

S&P downgrades RadioShack stock


Standard & Poor’s Rating Service downgraded RadioShack’s already junk-rated debt to CCC from CCC+ on Thursday, Aug. 1. S&P warned that the Fort Worth-based retailer could default within a year “absent a major business turnaround or increased liquidity.”

On Friday, RadioShack’s stock,w hcih trades on the NYSE under the “RSH” symbol, fell 32 cents or 11 percent to $2.57. The company recently hired Peter J. Solomon Co. to raise financing for recovery. And last week the company laid off about a dozen employees at its downtown headquarters.  

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Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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