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Monday, January 12, 2009

Circuit City is up for Sale & Cracked Mad Parody

It looks as though Circuit City has provided an update on developments in its bankruptcy court proceedings. The company has two interested parties and is seeking approval to put itself up for sale or liquidate its assets if the company does not sell by January 16th.

Presently, the company is engaged in significant discussions, meetings and negotiations with two highly motivated and interested parties concerning the terms of a going concern transaction. These interested parties are considering providing additional financing to allow the company to sustain operations and move forward with a subsequent restructuring through a stand-alone plan and/or purchasing the company or all or substantially all of the company's assets.

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