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Reuters: RadioShack Seeking New, Lower-Cost Loans, Sources Say

August 14, 2013, 07:16 AM
Filed Under: Retail

Retailer RadioShack is looking to refinance its debt by securing new, lower-cost loans, a process it would like to complete by the end of the year, according to two sources familiar with the matter.

A Reuters article notes the struggling electronics chain, whose shares have tanked as sales have fallen over the past year, believes it can avoid a restructuring if it can pay off current lenders, including Bank of America and Wells Fargo, and secure more favorable borrowing terms from new lenders. The sources declined to be named because discussions are ongoing.

The process is in its early stages, and no deals have been proposed, one of the sources said.

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