Overview
- An internal email told employees the company may cease operations as soon as January 9, 2026 if it cannot secure financing or an acquirer.
- The communication said any closure would be permanent, affect all locations and departments, and terminate employees effective January 9.
- A Washington WARN notice for the Seattle headquarters lists a permanent site closure and 64 layoffs, including executive roles, as early as January 9.
- Rad said the WARN notices are precautionary and that no final decision has been made as it actively explores strategic partnerships, an acquisition, or new funding.
- After multiple layoff rounds driven by a post‑COVID demand slump, excess inventory, tariffs, and macro headwinds, new CEO Kathi Lentzsch has been leading turnaround efforts.