Remove ads with our VIP Service
Share This Page
Add Your Comments
- A Snapshot of 4K Ultra HD Blu-ray - 80k players, 88 titles, 1 million discs sold [11/8]
- High-Def Digest Previews the Sony UBP-X1000ES Ultra HD Blu-ray Player [9/29]
- OPPO Digital Confirms Upcoming Ultra HD Blu-ray Player [9/26]
- Sony Announces 4K Ultra HD Blu-ray Player for Spring 2017 Release [9/15]
- Yamaha Announces RX-A 60 Series AVENTAGE AV Receivers [5/17]
- Yamaha Announces RX-V 81 Series A/V Receivers, Featuring Dolby Atmos, DTS:X, and 4K Ultra HD [4/6]
- Yamaha Releases DTS:X and HDMI 2.0a Firmware Updates [4/6]
- DTS:X and HDMI 2.0a Update for More Marantz Models Now Available [3/3]
- Denon Releases DTS:X and HDMI 2.0a Firmware Update for AVR-X4200W and AVR-X6200W [2/18]
- Yamaha Announces Spring 2016 Timeframe for DTS:X Firmware Updates for Select AV Receivers, AV Processor, and Sound Bars [2/17]
CNNMoney.com is reporting that Circuit City has asked for court approval to liquidate all of its assets and close all 567 across the United States.
"We are extremely disappointed by this outcome," James Marcum, acting CEO for Circuit City, said in a statement. "We were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company."
In a filing with the U.S. Bankruptcy Court for the Eastern District of Virginia, Circuit City - the No. 2 electronics retailer after Best Buy (BBY, Fortune 500) - said it had reached an agreement with four companies to start the liquidation process.
The company said the sale would begin Saturday and run until March 31, pending court approval.
Back in October, I warned that buying from Circuit City should be done with caution because of their financial troubles at the time. This latest development should suprise no one given the current economic climate and the unwillingness of creditors to extend money to troubled efforts.
This is definitely bad news for Circuit City's 30,000 employees, and if there is any good to be found in this news, it's that consumers might be able to find some deals on clearance merchandise as the stores are being liquidated before closure.
Click the Read link below to view the entire article on CNNMoney.com.
Add Your Comments
No comments found. Be the first and let us know what you think!
Add Your Comments
|Commenting on Journal Articles is available only to our readers who have customized this site, which makes it easier for you to complete the form and for us to contact you with any questions or concerns about your comments.|
Please login or register a new account before continuing.
Log in to retrieve your saved settings.
Forget Your Passcode?Send My Passcode To Me
Not Registered? Create a New Account!
Our registered members enjoy more features, including:
- Save Your Location -- the site remembers your location, no having to re-enter it each time you visit
- Favorite Theaters List -- keep a handy list of the theaters you attend
- Favorite Movies List - movies you want to see, all in one place
- Write Movie Reviews -- share your opinions of the movies you see
- Block Ads with VIP Service -- view this site ad free (subscription req'd)
Basic accounts are free -- sign up today!
Concerned About Privacy?
Journal/Blog - The Marquee - Movie Links - News and Events - Now Showing - Reader Reviews
Customize - VIP Service
|The BigScreen Cinema Guide is a service of SVJ Designs LLC. All graphics, layout, and structure of this service (unless otherwise specified) are Copyright © 1995-2016, SVJ Designs. The BigScreen Cinema Guide is a trademark of SVJ Designs. All rights reserved.|
'ACADEMY AWARDS®' and 'OSCAR®' are the registered trademarks and service marks of the Academy of Motion Picture Arts and Sciences.