Circuit City Auctions

Circuit City has "received expressions of interest for Going Concern Transactions and continues to explore various financing alternatives". As such, the date for Circuit City's three inter-connected auctions have been moved.

A 'Miscellaneous Asset' auction will now take place on 13th January, starting at 12.00 EST. A 'Store Closing' auction will take place on 14th January starting at 12.00 EST. And, a 'Going Concern' auction will start of 15.00 on 14th January, or following on from the conclusion of the 'Store Closing' auction.

Circuit City's local newspaper - the Richmond Times-Dispatch - suggests that the 'expressions' of interest have come from Ricardo Salinas [who owns Grupo Elektra, which, amongst other things, runs Latin America's largest chain of consumer electronics stores] and Mark Wattles [who owns the Ultimate Electronics chain]. Both of these investors are significant shareholders in Circuit City.