RadioShack names consultant new interim CFO

Fort Worth, Texas – Struggling consumer electronics retailer RadioShack Corp. has named Carlin Adrianopoli, a consultant with strategic advisory and interim management services firm FTI Consulting, as its new interim CFO. Adrianopoli replaces Alix Partners managing director Holly Etlin, who was named interim CFO in September 2014 to replace previous CFO John Feray after he resigned.



Adrianopoli, 39, has been a senior managing director in the FTI Consulting Corporate Finance/Restructuring practice since 2010 and joined FTI in 2002. Adrianopoli has more than 16 years of experience serving as financial advisor and providing interim management and performance improvement services. His services will be billed to RadioShack by FTI Consulting and he will not receive separate compensation from RadioShack.



FTI will also provide other strategic advisory services to RadioShack. On Dec. 11, RadioShack reported a wider-than-expected third-quarter loss of $161.1 million, up from $135.9 million a year earlier, and detailed cost costs that include staff reductions and more store closings to boost earnings by some $400 million annually. However, Fitch Ratings said there is still a high likelihood of a bankruptcy filing in the near term.



On Dec. 1, 2014, RadioShack received a notice of default and acceleration on a $250 million term loan from Salus Capital Partners, which the company disputes. However, the company has warned of a potential bankruptcy in September and December regulatory filings.