Circuit City Canadian Business Sold
The sale of Circuit City's Canadian operation to Bell Canada has been finalized, the companies announced late last week.
According to the Richmond Times-Dispatch, InterTAN Canada Ltd., which operated the chain known as The Source, was sold for $116.8 million, plus $30.3 million for working capital. The stores will remain open and sell Bell products.
Circuit City had bought the chain in 2004, but had been attempting to unload it for nearly two years, the paper said.