RadioShack in Talks to Gain Fresh Financing as Losses Mount
This article is for subscribers only.
RadioShack Corp., the struggling electronics retailer, said it’s working with creditors and other parties to get more capital and avoid bankruptcy after posting another quarter of mounting losses and plunging sales.
The company is in advanced discussions about ways to shore up its balance sheet, including debt restructuring, a plan to consolidate stores and other measures, according to a statement today. The announcement follows a report from Bloomberg News that RadioShack is talking to Standard General LP and UBS AG about borrowing money. Another possibility is a sale of the company, RadioShack said today, noting that if its restructuring efforts fail, it may be required to seek bankruptcy.