|Circuit City Auctions off Stores and Branding|
|Home Theater News Industry-Trade News|
|Written by AVRev.com|
|Tuesday, 17 February 2009|
The Gordon Brothers’ DJM Realty division will be handling the auctions. They, along with Hilco Trading, will bid on the Circuit City brand and domain name, in a stalking horse bid that can be topped once Circuit City’s intellectual property goes to public auction.
The bankruptcy sale at Circuit City stores is going faster than anticipated, and the latest stores to close will likely close ahead of the March 31st deadline. The final batch of stores will be auctioned off on March 10th. In addition to the ruling that allows Circuit City to auction off its remaining stores, the court permitted them to sell defective merchandise online via a third party vendor, and to sell off two corporate jets for $4.4 and $4.5 million.