Items tagged with Bankruptcy
It appears that Circuit City’s liquidation sales have been successful. So successful, in fact, that the stores are running out of inventory sooner than expected. As a result, liquidators have announced that all of the chain’s remaining stores will close this Sunday. The shutdowns come about a week ahead of schedule, and two weeks earlier than...
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Oh, how the mighty have fallen. Just months after sat radio powerhouses Sirius and XM merged, the singular entity is teetering on collapse. The company (and formerly, companies) have always been pretty strapped for cash, but it appears that its leverage has almost expired. According to a recent report from the Associated Press, it's expected...
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America’s third largest electronics retailer with 721 stores in the U.S. and 770 in Canada, has petitioned for Chapter 11 protection in U.S. Bankruptcy Court in Richmond. After losing money in five of the last six quarters and announcing last week it would close 155 stores, Circuit City is seeking bankruptcy protection amidst fears that it...
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