Daily News: October 7, 2013

Bloomberg: RadioShack to Seek Funds for Turnaround Support

Bloomberg said RadioShack plans to raise funds by the end of 2013 to persuade suppliers to support its turnaround effort, people familiar with the matter said.

Bloomberg sources, who asked not to be identified because of the private nature of negotiations, said the retailer has enough liquidity to last through 2014, is arranging new financing to show suppliers that it has all of the capital needed for its turnaround retailer and would seek to raise the cash through debt financing.

Previously on abfjournal Reuters: RadioShack Names Turnaround Expert as Interim CFO, July 23, 2013

To read the entire Bloomberg article, click here.