Salus Capital Partners would provide $500 million to RadioShack Corp RADIOSHACK CORP (RSH) Salus Capital Partners would provide $500 million in a kind of debtor-in-possession loan used by companies to fund operations in bankruptcy, the Wall Street Journal reported on Monday. The offer expires Thursday, the newspaper said, adding that the unsolicited loan would replace a financing package worth $585 million that the struggling consumer electronics retailer obtained in 2013. Debtor-in-possession loans generally give the lenders a great deal of sway over a bankruptcy. Neither RadioShack nor Salus were immediately available for comment outside of normal business hours. Radio Shack whose sales have been dropping since 2010, said in September that a bankruptcy filing was a possibility. Disputes among creditors have forced the chain, once the go-to retailer for electronics gear, to scale back a plan to close 1,100 stores to try to stem its losses. The store had the worst sales in holiday history, and to spite trying to revamp stores in recent years cant seem to find a product mix that keeps it relivent in todays internet driven electronic world.
Posted on: Tue, 13 Jan 2015 06:49:14 +0000
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