Printed from http://www.electronista.com

Circuit City in talks for self-sale

updated 11:55 am EST, Fri January 9, 2009

Circuit City in Sale Talks

Circuit City on Friday morning made public that it's currently in talks with an unnamed company to potentially sell off its assets following its bankruptcy. The retailer declines to provide any more details than required by a hearing pushing the details into the open but confirms that two "highly motivated" companies are discussing the possibility of deals that would either give the company enough money to continue on and restructure itself or else to effectively buy out the resources of the entire store chain.

The firm cautions that it's possible no deal will take place but does explain that both of the anonymous companies have already conducted the due diligence needed to explore whether an agreement is fiscally reasonable.

A takeover of Circuit City would create a major shift in the electronics retail business, which in North America is currently led by Best Buy and has resulted in retail deals for the iPhone 3G and other exclusive or near-exclusive devices going directly to the market leader. Circuit City is considered one of the few remaining nationwide competitors and also has an influence in Canada through the smaller chain The Source.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Cambridge Audio DacMagic XS

Every computer with a microphone or headphone port has one -- a digital to analog converter (DAC). There are nearly as many chipsets a ...

D-Link Wi-Fi Smart Plug

Home automation fans have been getting their fair share of gadgets and accessories in the last few years. Starting with light bulbs, a ...

Razer Kraken Pro headset

Gaming headphones are a challenge to get right, for a long list of reasons that are unique to the consumer buying them. Some shoppers ...

Sponsor

toggle

Most Commented

 
toggle

Popular News