Circuit City Update: Company up for sale, possible liquidation after Jan. 16

The bricks and mortar retail giant that once was – Circuit City – announced Chapter 11 bankruptcy protection back in November. Now, the company has issued an update stating that they are putting themselves up for sale as a “going concern” – meaning the company will continue to operate as a business entity but is faced with the threat of possible liquidation in the near future. The update also states that the company is in talks with two parties that may be interested in participating in an auction for the company come January 13. If no sale is made by January 16 however, the company may be forced to liquidate its assets and drop dead.

We’ve always known Circuit City was in trouble with their lack of good marketing, “me too” attitude, and inability to generate buzz, but it’s still tough to see an old friend in trouble. Circuit City – if it means anything – if I had a few billion laying around, I just might swoop you up.

Company Update [Circuit City]