Just last week it appeared like a bankruptcy was the inevitable for satellite provider Sirius XM, but how quickly things can change. Liberty Media Corporation has just stepped in and saved them with a loan for a whopping $530 million. The loan will be given in two parts with the first beginning immediately.

The first part consists of $280 million, of which $171.6 million will go to pay their debts. The second part will be $150 million with another $100 million going towards the outstanding loans from XM Satellite Radio.

New reports are claiming that Sirius XM is “within days” of filing for Chapter 11 bankruptcy. According to a New York Times report, the company is currently “working with advisers to prepare for a possible bankruptcy filing.” So, as of now, they are considering the option, which means they have not begun the process, still this is not good news.

On the flip side, the report also mentions that this could also be a calculated move to convince Charles Ergen (owner of Dish Network and EchoStar) to make a solid offer to purchase. Ergen has already made an offer in the past, it came shortly after Sirius and XM merged.

As soon as news hit that Circuit City would be holding liquidation sales at its remaining US locations, buyers began to line up around the block in hopes of scoring the best deals. Liquidation companies came in and started dramatically slashing prices in order to make the most bank off of whatever stock is left.

The lines were long at most locations on Saturday, reports stating that many were 100 people or more deep. Televisions, video games and other electronics have started with a 10 percent discount while other merchandise, like furniture, cables, and accessories carried discounts of 20 and 30 percent off. Many branded items, like Apple iPods have yet to receive a discounted price. When the final numbers for Saturday came in, sales were up 25 percent for the retailer.

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 more »

Just last week, Circuit City announced plans to close a fifth of its stores. This morning, they just filed for Chapter 11 protection in the U.S. Bankruptcy Court. The petition for Chapter 11 protection in U.S. Bankruptcy Court in Richmond, Virginia, listed $3.4 billion in assets and $2.32 billion in liabilities. The company said it more »

The Tempe, Arizona based Syntax-Brillian Corp has filed for Chapter 11 bankruptcy, after weak sales and numerous other problems. The corporation, formed when Syntax Group and Brillian Corp merged, is the parent of the Olevia brand of LCD TVs, which will no longer be produced. Syntax-Brillian’s assets were worth $175.7 million, but their debts totaled more »