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Bloomberg: RadioShack Said to Boost Liquidity With $835MM Credit Line

October 22, 2013, 07:42 AM
Filed Under: Retail

Bloomberg reported that Fort Worth-based RadioShack, which is retooling its stores to try to reverse a sales slide, received commitments for $835 million in new financing. Bloomberg obtained this information from sources with knowledge of the matter. The funding would replace its existing $625 million credit facilities.

The lenders include GE Capital, Salus Capital Partners, CIT Group and Royal Bank of Scotland Group, said the person, who asked not to be named. The new credit line boosts RadioShack’s liquidity as it tries to persuade suppliers to support its turnaround efforts after losing $139.4 million last year.

Read the aritcle on Bloomberg here.

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