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Entries tagged "Circuit City"How will Wattles' Blockbuster story end?If history is any indicator, then activist investor Mark Wattles' involvement at Blockbuster could lead to an unhappy ending. A liquidator takes goods into his own handsA liquidator tasked with shutting down a Circuit City store attempted to abscond with some of the inventory. UST miffed over Circuit City bonus proposalLiquidating Circuit City Stores Inc. will ask a bankruptcy judge to pay executives and other employees about $4.63 million to stay with the company as it winds down. Leases go begging as retailers close shopAs more and more retailers are deciding to liquidate instead of reorganize while in bankruptcy protection, a number of debtors are looking to sell their leases to get more cash for their creditors. So far, there aren't too many takers for them.... Fretful gift card holders get a breakWorried holders of gift cards bearing the brand of bankrupt retailers such as Linens Holdings Co. (Linens 'n Things), Circuit City Stores Inc. and Tweeter Opco LLC (Tweeter): fear not. A company called Giftcardrescue.com has got you covered. ... Ever darkening clouds gather above retailersIt's no secret the retail sector resembles a bombed-out war zone currently. Companies from Midwestern apparel chain Harold's Stores Inc. to the parent of discount retailer National Wholesale Liquidators, NWL Holdings Inc., to electronics seller Tweeter Opco LLC have filed for bankruptcy protection in just the past few weeks. Giants such as Mervyn's Holdings LLC and Linens 'n Things parent Linens Holding Co. are liquidating after failing to attract buyers. Steve & Barrys LLC may liquidate even after finding a buyer -- Bay Harbour Management LLC, which paid $168 million in August. And conditions only seem to be growing worse.... GM, Circuit City get no pass to bailout partyGovernment bailouts are not for everyone, and shareholders of General Motors Corp. and Circuit City Stores Inc. got a stark reminder of that on Monday. ... Deal Stocks: The calm amid the stormThe Street got a bit of relief on Monday, as the Dow Jones Industrial Average had one of its calmest days in quite some time as investors generally held off on big moves with the presidential election just a day away. The Dow inched down 5.18 points to close at 9.319.83 on Monday. While most stocks were relatively flat Monday, there were a pair of big waves amid the calm seas. ... Who pulled the plug on Circuit City and Tweeter?Is the electronics retail sector under siege? First Sharper Image Corp. filed for bankruptcy, and now it looks like Tweeter Home Entertainment Group Inc., which only recently emerged from bankruptcy, is liquidating its remaining 100 stores. Meanwhile, larger rival Circuit City Stores Inc. is closing 155 stores ahead of the holidays, further fueling speculation that the Richmond, Va.-based chain could be the next in line. ... Circuit City Stores blows a fuseWith its cash and short-term investments down 78% and its market share dwindling, Circuit City Stores Inc. is considering a plan to sell up to 150 stores in order to avoid Chapter 11 bankruptcy, news reports have indicated. ... Another Tweeter blowout?Technology blog Engadget is reporting that electronics chain Tweeter Home Entertainment Group Inc. is near a second Chapter 11 filing. A second filing only 15 months after emerging from bankruptcy would reflect poorly on the special-situations investment firm Schultze Asset Management LLC, which purchased Tweeter. ... Rivals' bankruptcies benefit Best Buy, Bed Bath & Beyond?It's debatable whether congratulations are actually in order for retailers Bed Bath & Beyond Inc. and Best Buy Co. after an equity analyst upgraded both of them on Monday. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Circuit City." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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