RadioShack Said to Discuss Rescue Deal With Shareholder
This article is for subscribers only.
RadioShack Corp. is talking with shareholder Standard General LP about getting a rescue financing package that could help the retailer stave off a bankruptcy filing, two people with knowledge of the matter said.
Standard General, a hedge fund that’s also orchestrating a lifeline for American Apparel Inc., is seeking to bolster RadioShack’s cash by issuing debt or equity, said the people, who asked not to be identified because the discussions are private. The firm also is working with RadioShack’s management to craft a plan that would avoid Chapter 11, the people said.