FORT WORTH—RadioShack Corp. said in an SEC filing Thursday that a Chapter 11 reorganization or Chapter 7 liquidation were both near-term possibilities as it struggles with mounting quarterly losses. Those losses persisted into the quarter that ended August 2, for which the Fort Worth-based electronics retailer reported double-digit year-over-year declines in total revenues and same-store sales.

“We have experienced losses for the past two years that continued to accelerate into the second quarter of fiscal 2015, primarily attributed to a prolonged downturn in our business,” according to RadioShack's SEC filing, which also reported that its stock price fell below $1 per share during the most recent quarter. In view of negative cash flows from operations and with an eye toward meeting its long-term cash needs, the company is exploring its alternatives, which also include a sale of the company or partnership through a recapitalization or a restructuring in or out of court.

Although a recap appears to be RadioShack's most likely course of action, “we are continuing to evaluate all of our alternatives to restructure existing debt terms and other arrangements to provide additional liquidity,” according to the SEC filing. “There can be no assurance that we will be able to successfully implement a long-term solution.”

Store closings “and other measures to make reductions in our cost structure” may be in the offing. However, according to RadioShack's SEC filing, “the actual number of store closures could vary considerably depending on the specific restructuring alternative implemented.” Earlier this year, the company planned to shutter as many as 1,100 underperforming RadioShack locations, but creditors blocked the plan, limiting it to 200 closings per year.

Results for Q2 of fiscal 2015, also reported Thursday, included a net loss of $137.4 million, up from a $52.2-million loss the year prior. Revenues were down 22% Y-O-Y to $673.8 million, while same-store sales similarly were down by 20% from a year ago. In a release announcing quarterly results, the company alluded to its turnaround efforts but did not mention a bankruptcy filing as a possibility.