Aug 26 RadioShack Corp's second-largest
shareholder, Standard General LP, is negotiating a rescue
package with investors to help the consumer electronics retailer
ward off bankruptcy, Bloomberg reported, citing people with
knowledge of the matter.
RadioShack shares were up 6.2 percent at 76 cents on the New
York Stock Exchange on Tuesday.
The hedge fund is also working with RadioShack's management
to help the company avoid a Chapter 11 filing, Bloomberg
Standard General is seeking to strengthen RadioShack's cash
flow by issuing debt or equity, Bloomberg said.
The hedge fund currently has a 7 percent stake in
The fund is also looking to refinance RadioShack's $250
million second-lien term loan, Bloomberg reported.
Standard General and RadioShack were not immediately
available for comment.
(Reporting by Ramkumar Iyer in Bangalore; Editing by Simon