Tags: RadioShack | financing | offers | inventory

RadioShack Gets New Financing Offers

Thursday, 03 Oct 2013 02:41 PM


Struggling U.S. retailer RadioShack Corp. has received several offers for new financing, including one from current lenders Bank of America Corp. and Wells Fargo & Co., three sources familiar with the matter told Reuters.

General Electric Co.'s GE Capital, which tends to make large asset-based lending deals, "is also in the mix," two of the sources said.

Securing a new financing deal could help RadioShack cut its borrowing costs and assure vendors and other key partners that it has enough cash to fund turnaround efforts led by Chief Executive Officer Joe Magnacca.

© 2015 Thomson/Reuters. All rights reserved.

Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.

You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved