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In recent days, it was suspected that Golden Gate Capital, a San Francisco private equity firm, may have purchased the retailer, but it was unable to raise funds for the purchase, sources told CNBC.
Circuit City, which said it had .4 billion in assets and .32 billion in liabilities as of Aug.
Tavenner of Tavenner & Beran, PLC on Behalf of Alfred H.
It had been exploring strategic alternatives since May, when it opened its books to Blockbuster.
The Dallas-based movie-rental chain made a takeover bid of more than
Tavenner of Tavenner & Beran, PLC on Behalf of Alfred H.
It had been exploring strategic alternatives since May, when it opened its books to Blockbuster.
The Dallas-based movie-rental chain made a takeover bid of more than $1 billion with plans to create a 9,300-store chain to sell electronic gadgets and rent movies and games, but then withdrew the bid in July because of market conditions. Bankruptcy Judge Kevin Huennekens had given the company permission to liquidate if a buyout was not achieved.
The long-rumored end to Circuit City has finally arrived.
Beaten down and finally booted by Best Buy over the holidays, the electronics retailer has begun liquidating its assets in stores across the United States.
||Tavenner of Tavenner & Beran, PLC on Behalf of Alfred H.It had been exploring strategic alternatives since May, when it opened its books to Blockbuster.The Dallas-based movie-rental chain made a takeover bid of more than $1 billion with plans to create a 9,300-store chain to sell electronic gadgets and rent movies and games, but then withdrew the bid in July because of market conditions. Bankruptcy Judge Kevin Huennekens had given the company permission to liquidate if a buyout was not achieved.The long-rumored end to Circuit City has finally arrived.Beaten down and finally booted by Best Buy over the holidays, the electronics retailer has begun liquidating its assets in stores across the United States.
billion with plans to create a 9,300-store chain to sell electronic gadgets and rent movies and games, but then withdrew the bid in July because of market conditions. Bankruptcy Judge Kevin Huennekens had given the company permission to liquidate if a buyout was not achieved.The long-rumored end to Circuit City has finally arrived.
Beaten down and finally booted by Best Buy over the holidays, the electronics retailer has begun liquidating its assets in stores across the United States.
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