The Deal
Saturday, November 21, 
5:28 pm

Circuit City buckles and files for Chapter 11

  Share     E-Mail    Discussion    Print Story
Published November 10, 2008 at 8:34 AM

Circuit_City_storefront.jpgCircuit City Stores Inc. filed for Chapter 11 Monday nearly one week after it said it would close 155 of its stores while laying off 7,300.


Continue reading below

Also on Dealscape

The electronics retailer was a victim of a slowing economy hit by tighter credit terms from vendors. Meanwhile, stiff competition from Best Buy Co., Wal-Mart Stories Inc. and numerous Internet vendors also hurt the No. 2 U.S. consumer retailer. The bankruptcy was the culmination of losses over the last five of six quarters. Rival Best Buy said it might acquire some of Circuit City's stores. - Gerald Magpily

Dealscape: Who pulled the plug on Circuit City and Tweeter?
Circuit City press release

Tags

Categories



Post a comment





The Deal Pipeline

Deal Video


Inside The Deal: Avaya Inc.'s Mohamad Ali on the company's next target.

More video...

Crisis On Wall Street
Technology
Deals of The Decade

Community

Industry Insight

Managing your shareholder base

By Bradford P. Weirick and Joelle Khoury, Gibson Dunn

Growth companies and their PE sponsors should be wary of the pitfalls that arise when they layer on tiers of preferred stock.


Industry Insight

Easing the stress of distressed M&A

By Derek Watson, KPMG

Corporate buyers face numerous complexities when trying to identify the right moment to purchase a distressed asset.


Editor's Note

Editor's letter: Nov. 16, 2009

By Robert Teitelman

Beneath the veneer of Wall Streeters beats the same heart, stirred by the same determinants of behavior.


footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.