"RadioShack Mired in Talks With Lenders Over Closings" $RSH

Must read article in WSJ about the latest developments at RSH:

"Some of the lenders are exploring whether as many as 2,000 stores should close, people familiar with the matter said, though others said that possibility hasn't become part of negotiations with the company. The company is set to keep the proceeds of any store-closing inventory liquidation, but it is possible the lenders could try to negotiate for part of the proceeds to pay down their loans, some of these people said."

Meanwhile, the bonds cry out to be exchanged for stock, which would be an excellent use of overpriced stock to save more than $20 million in cash interest cost. Counting the interest on the loans in addition to the bonds, the company is spending close to a third of its market cap on annual interest expense. Unsustainable.