Circuit City may be acquired in lieu of liquidation
FROM TWICE: Company negotiating sale with two parties
By Alan Wolf of TWICE -- Video Business, 1/9/2009
JAN. 9 | FROM TWICE: Circuit City said it is negotiating the sale of the company with two “highly motivated and interested parties” who may acquire it outright, buy only parcels of the business, or provide additional financing to support the chain while it restructures.Short of the sale or an amended credit agreement with its current lenders, Circuit City will begin auctioning off its assets on Jan. 13, and would completely liquidate the business shortly thereafter should the auction fail to generate a sale.
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