Fort Worth, Texas – RadioShack Corporation is reportedly planning to raise funds before the end of this year to gain the confidence of suppliers in its turnaround effort. According to Bloomberg, RadioShack currently has enough liquidity to operate through 2014 but intends to raise additional cash through financing.
Bloomberg quotes a Morningstar credit analyst as estimating RadioShack could borrow up to $100 million without affecting its credit rating. RadioShack hired turnaround specialist AlixPartners LLP and investment bank Peter J. Solomon to advise it on refinancing options in July. RadioShack declined to comment.