It Is Game Over For Circuit City

Posted: Jan 16 2009, 1:24pm CST | by , Updated: Aug 11 2010, 12:38pm CDT, in News | Technology News

 
It is Game over for Circuit City
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Circuit City Stores, Inc. announced today that it will seek Bankruptcy Court approval to begin the process to liquidate the assets of the company. Circuit City was not able to find a way to survive under the Bancruptcy protection the company filed in November.
The liquidation of Circuit City is affecting 30,000 employees across the United States.Circuit City will provide more details in the near term about the plans for the liquidation of the stores and other assets, the status of the company's Web site and firedogSM services operations, the status of its Canadian operations and plans for the company's bankruptcy proceedings.
The company does not anticipate any value will remain from the bankruptcy estate for the holders of the company's common equity, although this will be determined in the continuing bankruptcy proceedings.
Via this Circuit City announcement.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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