RadioShack Continuing With Plan To Close Fewer Stores

(RTTNews) - Consumer electronic goods retailer RadioShack Corp. (RSH) Thursday said in a regulatory filing that it is continuing with a plan to close fewer stores and is pursuing other cost reduction measures.

The company previously announced that it was seeking consent from its lenders under the 2018 Credit Agreement and 2018 Term Loan to pursue a program to close up to 1,100 stores.

However, the terms on which the lenders are willing to provide this consent are not acceptable to the company.

''While the Company may continue to have discussions with its lenders regarding the proposed store closure program, the Company is continuing with a plan to close fewer stores and pursuing other cost reduction measures permitted under the existing terms of the 2018 Credit Agreement and 2018 Term Loan,'' RadioShack said in the filing.

RSH closed up 4.3 percent on Thursday at $1.47 and rose 2.7 percent in the extended trade.