Circuit City |
Wiki |
This is about the bankrupt Company, for the Circuit City eCommerce Store, See Circuit City.com.
Circuit City Stores, Inc. (Pink Sheets: CCTYQ) was an American retailer in brand-name consumer electronics, personal computers, entertainment software, and (until 2000) large appliances. The company opened its first store in 1949 and liquidated its final American retail stores in 2009 following a bankruptcy filing and subsequent failure to find a buyer. As part of its bankruptcy, the company is selling its Canadian subsidiary, InterTAN (which operates as "The Source by Circuit City"), to Bell Canada. Circuit City now operates in the United States as an online-only retailer as a company of Systemax Inc. (NYSE: SYX).
On May 11, 2009, Systemax bought the brand, trademark and e-commerce business at an auction. Systemax had earlier acquired CompUSA and TigerDirect which now operate as online retailers. Systemax in April 2009 signed a stalking horse agreement for $6.5 million which is an initial offer for a bankrupt company's assets.