Moody's on Tuesday issued a warning that RadioShack's turnaround plan may never come to fruition. The credit ratings agency said that although the struggling electronics chain should have enough liquidity to make it through the current fiscal year, it is "increasing likely" it will run out of cash by the fiscal third quarter of 2015. "Barring a cash infusion, RadioShack will not have much of a cash cushion to draw upon as it scrambles to remain relevant in the increasingly competitive mobile phone and consumer electronics business," Moody's said in a note on Tuesday.

Adam Jeffery | CNBC

"Unless RadioShack can orchestrate a successful turnaround strategy over the next 12 to 18 months and improve customer traffic in its stores, we think the company's liquidity will continue to deteriorate and it will start to lose vendor support."

Read More RadioShack did not immediately respond to request for comment. In the most recent quarter ended May 3, the company posted an operating loss of $81 million. Over the same period, its cash balance shrank to $62 million, Moody's said. The agency has a Caa2 negative rating on the company. Earlier this year, RadioShack had announced plans to close about 1,100 U.S. stores. But a disagreement with lenders caused the chain to dial back this plan to close up to 200 stores a year over the next three years.