Clock Ticks for RadioShack as Default Protection Price Rises

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Clock Ticks for RadioShack as Default Protection Price Rises

Clock Ticks for RadioShack as Default Protection Price Rises
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Clock Ticks for RadioShack as Default Protection Price Rises

by TheStreet 1:23 mins

RadioShack's turnaround is still in the future as the electronics retailer tries to close down 200-plus stores and do something about its debt. Hedge fund BlueCrest Capital Management has offered to give the company a $250 million refinancing package, but second-lien debtholders are balking at the company's plans to shutter stores. Though RadioShack has some breathing room as it has no debt due next year, it is still facing the holiday season. And the price of short-term protection against a credit default by the company has risen in the past month, suggesting that the day of reckoning for Radioshack may come sooner, rather than later.

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