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bloomberg.com - 11/11/2008

Worldwide

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Circuit City's $1.1 Billion Bankruptcy Loan Buys It More Time By Dawn McCarty and Mark Clothier Nov. 11 (Bloomberg) -- Circuit City Stores Inc. , the consumer electronics chain that filed this year's biggest retail bankruptcy, arranged $1.1 billion in financing that gives the 59-year-old company ...

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Gizmodo:  Circuit City Gets a New Lease on Life (Literally) [Circuit City]

CrunchGear:  Good news and bad news for Circuit City

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Circuit City Gets a New Lease on Life (Literally) [Circuit City]
Gizmodo — ... Still, will Circuit City use this second chance to make amends like near-death experience survivors normally do, or will it simply relapse into another black hole suckage, so we'll get to do this dance all over again next year? I hope they pull it out, personally—their new releases are always at least a buck or two cheaper than Best Buy, and I can stand being ignored for five minutes to save a dollar. [Bloomberg via ...

Good news and bad news for Circuit City
CrunchGear — Circuit City has a lot to be thankful for this Thankgiving after a $1.1 billion dollar loan from Bank of America. That amount should cover operating expenses and take care of inventory concerns over the holiday season. In addition to yesterdays bankruptcy, Circuit City owes HP and Samsung, among the rest of the debt, over $2.3 billion - $119 million to HP and $117 million to Samsung. Samsung and HP are even considering withdrawing its wares from Circuit City’s shelves after yesterdays fillings. Maybe after this loan though, you will still be able to buy ‘em for a bit longer. The question then ...

Samsung: Hey Circuit City, Where the Hell Is Our $74 Million? [Circuit City Is Toast]
Gizmodo — ... In a bankruptcy court filing, Samsung said it believes "that Circuit City Stores was insolvent at the time it received the goods," and has requested twice that it return $74 million worth of merch shipped between Sept. 21 and Nov. 4. Even if Circuit does pay up or return this set of goods, if it were dealing with mob bosses instead of corporations, it'd still probably get its legs broken—Bloomberg reported it actually owed Sammy over $116 million all told, plus $119 million to HP. So that ...