RadioShack Said to Boost Liquidity With $835 Million Credit Line
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RadioShack Corp., the unprofitable consumer-electronics seller, received commitments for $835 million in new financing, said a person with knowledge of the matter, replacing its existing $625 million credit facilities.
The lenders include GE Capital, Salus Capital Partners LLC, CIT Group Inc. and Royal Bank of Scotland Group Plc, said the person, who asked not to be named because the process is private. The new credit line boosts RadioShack’s liquidity as the company tries to persuade suppliers to support its turnaround efforts after it lost $139.4 million last year.