Three Circuit City Suitors Vie in Auction
As Thursday passed with no resolution in Circuit City's auction, a picture emerged that three suitors are pursuing the company, with liquidation the most likely scenario. That's according to a Wall Street Journal report early Friday.
The three bidders, according to the Journal, are Golden Gate Capital, Mexican media tycoon and company minority owner Ricardo Salinas Pliego, and a joint bid by liquidation firms Hilco Merchant Resources and Gordon Brothers Retail Partners.
The paper identified Golden Gate as the leading bidder, and reported that the firm would like a 30-day period for analysis of the company.