RadioShack Said to Reach $590 Million Refinancing Agreement

RadioShack, the electronics chain trying to stave off bankruptcy, reached an agreement with a consortium led by Standard General LP to refinance about $590 million of loans to restock inventory ahead of the holidays, a person familiar with the matter said. Standard General, a New York-based hedge fund, will lead a group of lenders to refinance debt outstanding under a $535 million asset-backed revolving credit line from GE Capital, the lending arm of General Electric Co., said the person, who asked not to be identified because the negotiations are private.