RadioShack Corp, the chain of consumer electronics stores is trying to stave off declaring bankruptcy. Its shares jumped over 45% after Standard General LP an investor said it was amidst talks on getting new financing for the troubled retailer.

Standard General is a hedge fund based in New York and said in a recent filing it was working to help improve the liquidity of the company prior to the upcoming holiday season.

It also entered into what it said was a standstill agreement until June of 2015, which prevents the company from taking over the businesses board of directors or proposing restructuring or an acquisition without the consent of RadioShack.

The hedge fund is the largest investor of RadioShack and has emerged as its potential savoir when it was reported it win amidst financial talks with the retailer.

Standard General previously helped orchestrate a lifeline for troubled retailer American Apparel. UBS AG is working as well on financing for RadioShack, which could help the electronics retailer increase its inventory leading up to the all important holiday season.

On Friday, RadioShack was up to $1.15 after the disclosure was made by Standard General. Shares of the retailer based in Fort Worth, Texas had lost close to 70% in value since the start of 2014 through the close of trading on Thursday.

One analyst said RadioShack stock is higher now thanks to a chance it might not go into bankruptcy.

Standard General as well as new investors are thinking of a broad recapitalization of the company that could be done by the early part of 2015. That would include those backing it acquiring preferred stock and the right to make board nominations.

The current talks have continued through the weekend and no assurances have been made the deal will work out, said Standard General.

The hedge fund owns close to 10% of the retailer. It owns options to acquire as many as 3 million more shares at $1.50 a share. Those options are go until January of 2016.