Reuters reports that troubled electronics retailer RadioShack Corp, is being advised by a restructuring attorney at law firm Jones Day as it tries to strike a deal with creditors to close stores while averting bankruptcy.

Citing people close to the matter, the Reuters article notes the company is working on a financing deal it hopes will help it avoid bankruptcy, the people said. Bloomberg News reported that the deal would be financed by UBS AG and Standard General LP, and would refinance RadioShack's $535 million asset-backed revolving credit line from GE Capital.

The company is also being advised by financial advisers at Peter J. Solomon Co and turnaround experts at AlixPartners.

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