Latest Circuit City Stories

2012-05-13 23:01:25

The Consumer Electronics Stores industry felt the full weight of the economic downturn, as consumer confidence plummeted and customer traffic dropped as Americans held off buying big-ticket items like TVs and stereos. While growth will be modest in the coming years, revenue is anticipated to pick up as the economy bounces back. As disposable incomes revive and business sentiment picks up, consumers will demand electronics once again. Innovative technologies, such as 3-D and LED TVs, will held...

2011-08-18 13:17:00

NEW YORK, Aug. 18, 2011 /PRNewswire/ -- Jil Mazer-Marino, Chapter 7 Trustee of the bankruptcy estates of Tavern on the Green Limited Partnership and LeRoy Adventures, Inc., has entered into an agreement to sell the companies' intellectual property rights to Tavern International LLC for $1.3 Million. The sale is subject to competitive bidding in a Bankruptcy Court approved sale process. The Trustee filed a motion yesterday seeking Bankruptcy Court approval of Sale Procedures including an...

2011-08-10 11:00:00

NEW YORK, Aug. 10, 2011 /PRNewswire/ -- The Bankruptcy Court for the Southern District of New York today approved the retention of Streambank, LLC to market and sell the intellectual property assets of Borders Group, Inc., including its Borders®, Waldenbooks®, and Brentano's® trademarks and the Borders.com e-commerce business assets. The Bankruptcy Court has authorized a sale process for the intellectual property assets that requires...

2011-07-14 10:32:00

NEEDHAM, Mass., July 14, 2011 /PRNewswire/ -- The Circuit City Stores Inc. Liquidating Trust has entered into an agreement to sell its remaining patent portfolio to Imaging Transfer Co. LLC for a cash purchase price of $750,000. The sale is subject to higher and better offers. Streambank LLC has been engaged by the Trust to conduct the sale process. Competitive bids are due by August 12th and an auction will be held on August 16th. A motion is being filed with the Bankruptcy Court for...

2011-04-21 07:00:00

NEEDHAM, Mass., April 21, 2011 /PRNewswire/ -- Streambank, LLC, the leader in providing intangible asset disposition services, will be conducting an auction of the Ultimate Electronics trademarks, domains, and related intellectual property on May 25th 2011 in New York. Ultimate Electronics Inc. has filed a motion with the Delaware Bankruptcy Court seeking approval of the sale of its intellectual property. The assets include the Ultimate Electronics trademarks, 11 related trademarks, 16...

2011-04-15 06:25:00

Best Buy, looking to win back market share from rivals including Wal-Mart and Amazon, plans to open hundreds of smaller mobile outlets reaching as far as China and even expand its online presence. The largest US electronics retailer plans to shrink the size of its retail outlets by 10 percent over the next several years hoping to save more than $70 million annually. The news follows concerns by investors about the retailer's massive overhead costs and oversized stores at a time when many...

2011-04-07 08:00:00

BOSTON, April 7, 2011 /PRNewswire/ -- Gazelle (www.gazelle.com), the nation's largest consumer electronics RECOMMERCE service, announced today that its Board of Directors has appointed Austin Ligon to the position of Non-Executive Chairman of the Board. Mr. Ligon has served as a Director since 2007 and assumes the newly created position effective immediately. Mr. Ligon brings extensive retail experience and will be taking an active role in the continued development and execution of...

Word of the Day
  • The navel or umbilicus.
  • In Greek archaeology: A central boss, as on a shield, a bowl, etc.
  • A sacred stone in the temple of Apollo at Delphi, believed by the Greeks to mark the 'navel' or exact center-point of the earth.
'Omphalos' comes from the ancient Greek.