Circuit City rises from the grave (well, the domain name and IP, at least)
The prolonged death spiral of its retail stores have been well-documented, but the Circuit City story seems to have added yet another chapter.
The prolonged death spiral of its retail stores have been well-documented (not least by our undercover spy shots of the so-called liquidation sales), but the Circuit City story seems to have added yet another chapter.
Computer vendor Systemax has agreed to purchase the bankrupt company's trademarks and domain names for $6.5 million, according to the Houston Chronicle. The actual sale is part of a May 11 auction of assets, and in court filings, Circuit City said, "The sale of the intellectual property and Internet assets would bring significant recovery for the sellers' estates and creditors."
If the Systemax name sounds familiar (and you've missed the handful of Systemax desktops we've reviewed over the years), that's because the company snapped up thelast year after that chain folded. They're also the parent company of online retailer TigerDirect.
When it decided to go out of business, Circuit City employed 34,000 people at 567 retail stores. Want to remember the good times? Check out the gallery below.