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In bankruptcy court, Circuit City was approved to borrow $1.1 billion to finance operations while restructuring. [7] Court filings revealed that the company had assets of $3.4 billion and debt of $2.32 billion, [ 54 ] including a $119 million debt to Hewlett-Packard and a $116 million debt to Samsung Electronics . [ 55 ]
- CBS News
- It dumped sales of popular appliances.
- When it spun off CarMax, it let a lot of talented management go with it.
- Stores became too impersonal and too large.
- As Best Buy took off, Circuit City became merely reactive and not innovative.
Nov 11, 2008 · By late afternoon on Nov. 10, a U.S. bankruptcy judge had granted the company permission to borrow up to $1.1 billion, which it will use to buy new inventory and pay workers. That should tide...
Nov 24, 2021 · Circuit City's bankruptcy offers two key lessons for leaders. First, win new customers and keep them buying from you for life. Second, use Five Whys Analysis to make sure you are solving...
- Peter Cohan
Oct 18, 2023 · In November 2008, Circuit City filed for Chapter 11 bankruptcy, signaling the beginning of the end for this once-mighty electronics giant. Legacy and Lessons: While Circuit City may have...
Sep 23, 2021 · (Reuters) - The trustee who oversaw the Circuit City liquidation process has asked the U.S. Supreme Court to weigh in on a dispute over fee hikes imposed by the U.S. Department of Justice’s...
Mar 8, 2009 · Circuit City filed for Chapter 11 bankruptcy protection in November with hopes of emerging as a stronger company able to compete in the ever-expanding marketplace; shedding its $2.32 billion in...
