RadioShack Corp., after reporting a much wider than expected fourth-quarter loss, said on a conference call yesterday that it's not considering "prepackaged bankruptcy" because it has "sufficient" liquidity to meet its obligations, MarketWatch.com reported yesterday. The company, which plans to shut up to 1,100 stores, made that comment after a question on whether it would follow a prepackage strategy to get out of store leases quicker. Chief Executive Joseph Magnacca admitted that the company was partly to blame for the disappointing results despite a challenging retail environment. He added the most recent quarter's results didn't reflect the turnaround progress the company has made.
