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Report: RadioShack, lenders at odds on store closingsApril 17, 2014
RadioShack Corp. stock has fallen following a Wall Street Journal report that negotiations with the retailer’s lenders are complicating plans to close as many as 1,100 stores.
According to the report, disagreements between the Fort Worth-based electronics retailer and its lenders center on how many stores should be closed. While the company said in March it would close 1,100 stores, it si currently planning to close 200, according to the Journal, citing people familiar with the negotiations.
According to the story, RadioShack officials publicly announced the store closing plan without approval from all the lenders. Some lenders have proposed closing as many as 2,000 stores.