Circuit City is going out of business for good next month. Right?
Perhaps not. Yes, the nation's second-largest CE retailer as we know will in fact go away in the near future. But the Circuit City name, and Web site, may in fact live in, after a company made a bid last week to buy both the Circuit City name and its Web site.
According to the Chicago Tribune, Hilco Trading LLC, one of the four companies handling Circuit City's liquidation, is in negotiations to buy both the name and CircuitCity.com, with an eye towards keeping the company alive as an online business.
A similar scenario took place in 2007 when CompUSA was purchased out of liquidation and eventually acquired by Systemax, which brought it back to life as both as online and small-scale brick-and-mortar retailer.