RadioShack Reports Wider Than Expected Loss, Store Closings
The Deal reported that RadioShack revealed comparable store sales declined 19% year-over-year on the way to a wider than expected loss of about $166 million.
According to The Deal , the retailer announced it would close up to 1,100 stores or about a fifth of its total locations.
The Deal notes that RadioShack’s total debt as of December 31, 2013 was $614 million, which is covered under a November refinancing that included a $535 million senior secured ABL revolver and a $250 million term loan. The lender group included: GE Capital, CIT Corporate Finance, RBS Citizens and Salus Capital Partners.
To read the entire Link The Deal article, click here.
Previously on abfjournal.com: GE Capital, Salus Capital Arrange RadioShack Refi, December 11, 2013