Circuit City bankruptcy likely in ’09: Analyst
FROM TWICE: Challenging economy affecting retailer
By Alan Wolf of TWICE -- Video Business, 10/14/2008
OCT. 14 | FROM TWICE: A research analyst at KeyBanc Capital Markets, here, expects Circuit City to enter Chapter 11 bankruptcy protection as early as the first quarter of 2009.“We believe a Circuit City bankruptcy has become a question of ‘when’ rather than ‘if,’” Bradley Thomas observed in a research note.
According to reports by StreetInsider.com and the Associated Press, Bradley said the challenging economic environment is accelerating the retailer’s trajectory toward Chapter 11, and will also diminish the likelihood that it can emerge from bankruptcy.
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