09.01.2009 19:36 Uhr, Quelle: Engadget

Circuit City CEO details bankruptcy proceedings, admits possibility of liquidation

Things have been a little rocky (to say the very least) for Circuit City since it filed for bankruptcy protection back in November of last year, and now the acting president and CEO has sent out a letter informing a select few (or the world, as the case may be) of what exactly is going / could be going on. In short, the company has just recently "filed with the Bankruptcy Court a motion that seeks Court approval for a process that formally puts the company up for sale." There's a lot of fluff after that, but the long and short of it is this: a sale could be approved before an auction begins (and its working mighty hard to make sure th

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