toggle

AAPL Stock: 122.77 ( -1.73 )

Printed from http://www.macnn.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 MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

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

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

Entry-level 27-inch Retina iMac

The 27-inch Apple iMac with 5K Retina display is already one of the best value-for-money Macs that Apple has ever released. It was som ...

toggle

Most Commented