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What happens when you don’t accept our $100 bid

Circuit City, Anthony and I reached out to you and countless other troubled firms with our bid of $100. We presented some of our awesome strategy to revitalize your core business. Yet you turned us down. And what happened? You’re now seeking bankruptcy protection.

Circuit City Stores Inc. filed for bankruptcy amid rising competition from Best Buy Co., Wal-Mart Stores Inc. and online electronics retailers. The petition for Chapter 11 protection in U.S. Bankruptcy Court in Richmond, Virginia, listed $3.4 billion in assets and $2.32 billion in liabilities, driving the shares down 56 percent before the New York Stock Exchange halted trading. The company said it is entering court protection owing Hewlett-Packard Co. $119 million and Samsung Electronics Co. $116 million.

One can only hope that the court recognizes the error of Circuit City’s ways and take us up on our offer…

Published in Blog

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