Business Law

NameDateProfessorSchoolCircuit metropolis Bankruptcy CaseThe Circuit city Stores was a Supermarket stores that premier opened in the year 1949 in Richmond Va , and profess by Samuel S . Wurtzel . In the year 2009 , the follow liquidated its assets after it d for bankruptcy under Chapter 11 of the Bankruptcy economy (CIS FIU , 2009 Today , the keep caller-out is an online electronic retail e-store that is owned by Systemax . Systemax bought the intellectual property , e-commerce business and the brand from Circuit City in May 2009 th rasping an auction br beforehand Circuit City could be liquidated it was one of the largest electronic retailers in the US along with Best Buy (in fact no . 2 after Best Buy . The company had rough 750 Stores in North America and employed over 35 ,000 people in the US and 3000 people in Cana da .

It had more(prenominal) than five hundred offline stores in the US and more than 150 of its outlets had been blockage by the time it d for bankruptcy under Chapter 11 (to reorganize ) initially in November 2008 . However , the initial point of after part of its outlets to generate money for better operations did non benefit the company in general . It tried to dig a foster 1 .6 billion for operations and could not restructure . The company owed huge debts to several early(a) MNC s such as HP and Samsung The company s debts were in the seam of 2 .3 billion whereas its assets were in the post of 3 .4...If you indispensability to get a full essay, coiffe it on our websi te: Ord! erEssay.net

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