Entries tagged "Circuit City Stores Inc."
To describe the current retail environment as challenging would be an understatement, and in much-more-than-challenging times, the death of a rival is welcome news. Best Buy Co. shareholders stood up and cheered at Circuit City Stores Inc.'s funeral on Friday as the electronic's retailer's shares jumped 8.11% to close at $29.34 a share following news that its biggest rival is all but dead and buried. ...
Circuit City Stores Inc. will begin liquidating its assets as soon as Saturday. So far, the electronics retailer is the biggest retailer to fail and will be the first post-holiday season retail casualty. The company has closed 155 stores and now has about 567 U.S. stores that will have to be shut down with going-out-of-business sales. ...
Mexican billionaire Ricardo Salinas Pliego appears to have lost his multimillion-dollar bet on Circuit City Stores Inc. ...
The question of whether or not Circuit City Stores Inc. can continue as a going concern will likely be decided Wednesday as the bankrupt electronics retailer begins an auction for its business. But if you're not in the market for a highly leveraged, 712-store home entertainment chain with disappointing sales amid a nationwide decline in discretionary spending, there's always, of course, a corporate jet to be had. ...
Circuit 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. ...
