RadioShack Said Seeking Funds This Year for Vendor Support
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RadioShack Corp., the consumer-electronics seller that lost $139.4 million last year, plans to raise funds by the end of 2013 to persuade suppliers to support its turnaround effort, people familiar with the matter said.
The retailer has enough liquidity to last through 2014 and is arranging new financing to show suppliers that it has all of the capital needed for its turnaround, said the people, who asked not to be identified because the company’s financing negotiations are private. The retailer would seek to raise the cash through debt financing, said one of the people.