RadioShack Gets New Financing Offers

Thursday, 03 Oct 2013 02:41 PM

 

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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.

© 2014 Thomson/Reuters. All rights reserved.

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