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Systemax bids $6.5 million for brand name, websites
Circuit City Stores (Richmond, Va.), which filed for bankruptcy protection in November 2008, is seeking to sell its brand name to Systemax Inc. (Port Washington, N.Y.), a catalog and website retailer of personal computers and consumer electronics.
According to The Wall Street Journal, Circuit City has filed papers in the U.S. Bankruptcy Court to get permission to hold an auction in May, with Systemax serving as the lead bidder.
Systemax has offered $6.5 million for the Circuit City and The City brand names, related websites, phone numbers and trademarks. In January 2008, the company bought the CompUSA name and 16 stores, after the computer retailer liquidated most of its locations. It now operates CompUSA stores in four states and Puerto Rico.
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