Dive Brief:
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RadioShack chief financial officer John Feray resigned Sept. 12 after less than a year on the job, the retailer has reported.
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The managing director of investment firm AlixPartners, Holly Etlin, who served as CFO starting in July 2013 before Feray was hired in February this year, will again serve as CFO until a replacement is found.
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Last week the struggling retailer told its investors that it is continuing to look for ways to restructure debt and close more stores, but if it can’t accomplish those things it could file for bankruptcy.
Dive Insight:
Feray’s departure comes at a difficult time for RadioShack. The retailer is facing the same challenges that other electronics retailers have — soft sales of smartphones and other items. RadioShack has suffered falling sales for two years and is having cash flow troubles in part because it has been stymied in its efforts to close stores.