Circuit City files for bankruptcy
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PC retail is reporting that Circuit City has filed for Chapter 11 Bankruptcy Protection.
The firm's assured that its doors will remain open throughout the Christmas period. This is largely due to "the assistance of a $1.1 billion debtor-in-possession revolving credit facility," apparently.
Circuit City boss James Marcum said: "We recently have taken intensive measures to overcome our deteriorating liquidity position."
More through the link. Thanks, MCV.
By Mike Bowden