The drawn out case also attracted claims traders, a somewhat obscure group in the financial world who gamble on how much money will be found in a bankruptcy case by buying debt claims on spec from original creditors.
Matson is now facing a potential federal prison sentence. The last remaining piece before Siegel fully turns out the lights on the Circuit City estate is a high-level legal dispute over fees paid to the U. While the potential resolution of that dispute is not expected to result in additional money for creditors materially, the trust said it is holding the Circuit City estate open until it is decided whether the Supreme Court will hear the case.
That decision is expected in November. The campus is full and now used by Allianz and Elephant Insurance. CC got lucky early on and enjoyed their domination of the market until around At that point it was already doomed. Write to Rachel Feintzeig at [email protected]. Skip to main content. Help Center. Members Members. Member Resources About Resources Ch. John's Case Blog. By pushing the big box concept in the s, Circuit City also evolved into a new concept of mass retailing automobiles by building big lot inventories and letting customers select exactly what they wanted by make, color and accessories.
CarMax, spun off in , was highly successful, at least until recently. Over the years, Circuit City built itself into stores in the U. The powerhouse category killer once had more than stores but finally succumbed to management and inventory issues plus intense competition from Amazon and Walmart. Plans to keep as many as stores open never materialized. The site discusses its new vision, team, and global strategy. Nothing specific has been promised, but there are rumors of stores opening by the Christmas season Even with the amount of retail change, the closing of thousands of retail stores, and the apparent disappearance of major iconic brands, there is still hope for some that were thought to be gone forever.
Although in different forms, Radio Shack and Circuit City are back. Get critical information for loss prevention professionals, security and retail management delivered right to your inbox. Get critical infromation for loss prevention professionals, security and retail management delivered right to your inbox. The trusted newsletter for loss prevention professionals, security and retail management. Get the latest news, best practices, technology updates, management tips, career opportunities and more.
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