FORT WORTH—RadioShack Corp. late Fridayannounced a deal to restructure a portion of its existing debt andhelp it get through the holiday selling season. However, theagreement with a group led by Standard General LPmay see control of the struggling electronics retailer's stock passto the lenders.

Under terms of the agreement announced Friday afternoon,Standard General and other investors have acquired RadioShack'ssenior secured asset based credit facility, replacing GECapital as lead lender. In the process, the group has alsoeased credit availability, providing RadioShack with $120 millionto collateralize letters of credit.

Assuming that holiday sales are strong and the company—whichrecently cited bankruptcy as an option—is in relatively goodshape, the lenders will convert that $120 million into between 50%and 80% of RadioShack stock. Although existing shareholders will beable to acquire more stock in a rights offering planned for earlynext year, they will not own a majority.