Updated! Fort Worth, Texas — RadioShack has hired a finance and restructuring consultancy, and appointed one of its directors interim chief financial officer.
Carlin Adrianopoli, a senior managing director at FTI Consulting, succeeds Holly Etlin, who had served as interim chief financial officer twice over the past year.
Etlin herself is a managing director at business consultancy AlixPartners, and along with Adrianopoli and The Maeva Group’s Harry Wilson, is one of three hired guns that RadioShack CEO Joe Magnacca has brought in during his tenure.
Adrianopoli’s appointment comes as the troubled CE chain faces possible default on a $250 million term loan that has been called by lender Salus Capital Partners.
Fitch Ratings predicted last week that the situation would likely lead to bankruptcy or a debt restructuring for the iconic retailer.
On FTI’s website, the corporate finance/restructuring practice lists “bankruptcy support” first among its service offerings, noting that “In some instances, the best way to maximize asset value is to initiate a bankruptcy or other insolvency proceeding.”
