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RadioShack bolsters leadership as Q3 loss widens
RadioShack posted a net loss of $112 million during the third quarter of fiscal 2013, compared to a net loss of $47 million in the year-ago period. It was the retailer’s seventh straight quarter posting a net loss.
The company also named Paul Rutenis, formerly senior VP, general merchandising manager for the home division of J.C. Penney Company, as its new chief merchant.
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Report: RadioShack gets loan from GE Capital
New York -- RadioShack has secured a financial boost from GE Capital, securing a loan of about $835 million, according to Marketwatch.com.
The loan, backed by inventory and other existing assets, will help the chain refinance the company's outstanding bank debt and free up cash for its ongoing revamp, the report said.