RadioShack is far from dead

RadioShack plans to enhance its in-store experience and deliver an exciting new product mix now that it has $75 million in new funding.

General Wireless Operations Inc., doing business as RadioShack, has completed new financing consisting of a $50 million asset-based lending credit facility led by RBC Capital Markets and a $25 million first-in last-out term loan led by Great American Capital Partners.

"We have ambitious plans for the new RadioShack, and this financing gives the new and reinvigorated RadioShack the ability to fully implement our strategic plan to provide superior products and services to over 1,200 communities," said Ron Garriques, CEO of RadioShack. "The new RadioShack is a place where everyone can meet their needs from a broad assortment of consumer electronics, accessories and connected tech. We will carry a wide range of new cutting-edge products and experiences from global brands as well as our exclusive brands that offer our customers tremendous value at great prices."

This financing will allow the company to continue investing in and improving the brand by enhancing its in-store experience, delivering a new product mix and developing its partnership with Sprint in building out more than 1,000 "Sprint Stores at RadioShack" in locations across the country.

"We are excited to help RadioShack reach the next level of its strategic development," said John Ahn, president of GACP. "They already have the footprint, the partners and the brand recognition, and we are proud to help them with the financing they need to be successful."



During the past three months, RadioShack has taken several steps to revitalize the brand, renovating many of its stores, updating and streamlining its inventory, and launching new marketing campaigns along with several other initiatives. The company has formed exclusive partnerships with new manufacturers, allowing them to sell technology products not available in other stores. In addition, RadioShack's partnership with Sprint gives its customers access to mobility leasing plans and mobility devices.