Circuit City files for Chapter 11 protection, will stay open

vbimport

#1

NEW YORK — Circuit City Stores (CC), the nation’s second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the holiday shopping season approaches.

Link: http://www.usatoday.com/money/industries/retail/2008-11-10-circuit-city-bankruptcy_N.htm?csp=34

:cool::cool:


#2

Holy Crap!


#3

Like I said in the another thread, Chapter 11 is restructuring, not going out of business, they are closing 155 Stores, all Share Holders and Debt Holders will be wiped out, but Curcuit City will survive. Chapter 7 is out of business.:wink: