Circuit City Stores Inc. hopes to sell its brand, trademarks and e-commerce business to Systemax Inc., the same company that purchased electronics retailer CompUSA’s intellectual property when it closed in 2008.
Richmond-based Circuit City, also a shuttered electronics retailer, has entered a so-called stalking horse agreement with Systemax for $6.5 million, according to bankruptcy court filings. A stalking horse bid is an initial offer for a bankrupt company’s assets from an interested buyer chosen by the company.
Considering their poor customer service, I’m not sure the Circuit City brand is something I would willingly associate myself with.
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