Nearly three years of losses and sales at their lowest levels in decades had forced the electronics chain to turn to debt investors for financial lifelines to stay in business. Objections from some of those same lenders prevented the company from closing hundreds of stores it felt it needed to shut down to stay afloat.
Sounds like they want to asset-strip the business and only lent money in order to have more leverage than they would get by purchasing equity on the open market.
Sounds like they want to asset-strip the business and only lent money in order to have more leverage than they would get by purchasing equity on the open market.