Home / Business / Publishing / USA: Circuit City facing bankruptcy

USA: Circuit City facing bankruptcy

Circuit City has filed for Chapter 11 bankruptcy protection, but the firm has promised to continue trading over the Christmas period with the assistance of a $1.1 billion debtor-in-possession revolving credit facility.

Making the announced, vice chairman and acting president and chief executive of Circuit City, James Marcum said: "We recently have taken intensive measures to overcome our deteriorating liquidity position."

To read the full story, head over to PC Retail.

The move comes in the wake of recently announced store closures, and an abandoned takeover bid from Blockbuster.

About MCV Staff

Check Also

Frontier signs up Surviving Mars developer Haemimont Games as its first publishing partner

Surviving Mars developer will work with Cambridge-based company to deliver title in two-to-three years