Troubled electronics retailer RadioShack Corp said it may need to file for bankruptcy if its cash situation worsens, after reporting its 10th straight quarterly loss.
The company is also exploring other options, including a sale or an investment, to overhaul its balance sheet, it said in a regulatory filing on Thursday.
RadioShack, whose sales have been in a freefall since 2010, said it was working with its lenders and landlords to restructure its debt and cut costs.
RadioShack shares were down 3.2% at 90 cents U.S. in volatile pre-market trading.
The company raised doubts about its ability to continue as a going concern and said it may have to liquidate as a last resort.
RadioShack stores, which have been around for more than 90 years, were once the go-to shops for budding innovators and engineers for products that ranged from vacuum tube speakers to the first mass-produced PC.
The retailer, however, has done little to transform itself into a destination for mobile phone buyers, losing out to rivals such as Best Buy Co Inc , Amazon.com Inc and Wal-Mart Stores Inc .
The company ended the second quarter with total liquidity of $182.5 million U.S. Its total debt was $658.0 million U.S., which matures between 2018 and 2019.
Its net loss widened to $137.4 million U.S., or $1.35 U.S. per share, in the second quarter ended Aug. 2 from $52.2 million U.S., or 51 cents U.S. per share, a year earlier.
Revenue fell nearly 22% to $673.8 million U.S. Same-store sales declined 20%.
