Circuit City announced Friday it is up for sale. The company filed for bankruptcy in early November, but announced in its quarterly news release it is selling the business.
RICHMOND, VA -- The report was sent out to employees Friday morning. It stated, "on January 5, 2009, the company filed a motion with the Bankruptcy Court that seeks approval of procedures that would formally put the company up for sale, as a going concern, as separate business units or as individual assets – including the sale of inventory."
Due to bankruptcy court requirements, Circuit City has until January 16, 2009 to sell the business.
