Monday, November 10, 2008

Circuit City Files for Bankrupcy

The heads keep rollin' as a result of the crisis...Circuit City, a giant in the retail business, seeks Chapt. 11 protection amid pressure from vendors ahead of the holidays.

The company's biggest creditors are its vendors: Hewlett-Packard has a $118.8 million claim followed by Samsung ($115.9 million), Sony ($60 million), Zenith ($41.2 million), Toshiba ($17.9 million) and others. Smaller creditors include GPS navigation system maker Garmin, Nikon, Lenovo, Eastman Kodak and Mitsubishi.
Source: Associated Pres

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