Circuit City in Trouble?

[Darren Dirt]

http://ve3d.ign.com/articles/news/42869/Circuit-City-Files-For-Chapter-11-Bankruptcy-Protection
^ should be fun to check out the above within a day or two, to see the comments that are posted (besides the obvious CC-hate).

Source: http://ve3d.ign.com/articles/news/42747/Circuit-City-Closing-155-Stores

Now in Canada, I wonder if we'll start seeing "The Source" closing down some shops?

http://en.wikipedia.org/wiki/InterTAN#History

On Nov 10, 2008 because of the Chapter 11 bankruptcy filing of Circuit City in the United States, InterTANs credit facilities were terminated this forced them to file for bankruptcy protection in Canada under the Companies' Creditors Arrangement Act (CCAA).

huh.

(woulda been real nice to include a cite for the above sentence )


So the Mama Company gets like HUGE financing to restructure (and get out of bad leases) and has more assets than liabilities, and has wanted to unload InterTan for quite some time -- now that they actually "filed" methinks the sale of InterTan is virtually guaranteed... Obviously "the market" doesn't want this niche to disappear (I mean who likes going to Future Schlock or lackofVisions to buy their patch cords and batteries )

[Melbosa]

http://en.wikipedia.org/wiki/InterTAN#History

On Nov 10, 2008 because of the Chapter 11 bankruptcy filing of Circuit City in the United States, InterTANs credit facilities were terminated this forced them to file for bankruptcy protection in Canada under the Companies' Creditors Arrangement Act (CCAA).

huh.

(woulda been real nice to include a cite for the above sentence )

Sources:
* http://www.cbc.ca/money/story/2008/11/10/intertan.html
* http://www.thestar.com/Business/article/533934
* http://www.stockhouse.com/News/USReleasesDetail.aspx?n=7117105

[Mr. Analog]

I hope they don't close their doors this week. I need some isopropyl alcohol!

Curse the Mama Company for being a large, evil, stupid corporation!

[Melbosa]

I hope they don't close their doors this week. I need some isopropyl alcohol!

Curse the Mama Company for being a large, evil, stupid corporation!

Most of the Canadian Articles indicate that InterTAN will keep all locations open through Christmas if they can.

[Mr. Analog]

I hope they don't close their doors this week. I need some isopropyl alcohol!

Curse the Mama Company for being a large, evil, stupid corporation!

Most of the Canadian Articles indicate that InterTAN will keep all locations open through Christmas if they can.

Good to hear hehe

Apparently Circuit City is one of the most despised chains in the USA (gauging a lot of the comments I've read elsewhere recently).

No tears for them, and that's for sure.