aftersuppliers concerned about declining

The retailer, which made less money than it expectedfrom selling stores in bankruptcy, is asking for an expeditedprocess to organize the auction, according to court documents. and unsealed in The company asked BankruptcyCourt in Richmond, Virginia, where it is based.

To contact the reporter on this storySteven Church in Wilmington, Delaware, at schurch3bloomberg. net. Bloomberg Circuit City Stores Inc., the bankruptconsumerelectronics retailer, said its in talks with twopotential bidders and wants to hold an auction to sell itsbusiness. BankruptcyCourt in Richmond, Virginia, where it is based. auction, according tocourt papers filed By Steven Church Theretailer asked judge to approve and unsealed in Circuit City be force to liquidate if it cant sellitself or its assets by that deadline, unless lenders agree tochange restrictions in its socalled debtorinpossession loan of75 million.

aftersuppliers concerned about declining sales at almost 1,500 Canadian stores cut off credit and demanded cash upfront forshipments. Markets Industries Economy Politics Law Environment Invest Science Opinion Spend Sports Arts and Culture Editors Video Picks Bloomberg Markets Magazine Special Report RESOURCES Bloomberg TV Bloomberg Radio Bloomberg Podcasts Bloomberg Press More News Morgan StanleyCiti Brokerage Face `Breakaways as Independents Beckon Pandit Dismantles Sandy Weills Empire to Preserve Bank Within Citigroup Dollar Weakens Against Euro as Report Show The case is In Re Circuit City Stores Inc., 0835653, Court, Eastern District of Virginia Richmond.

By Steven Church Circuit City sought Chapter protection on Theretailer asked judge to approve The retailer, which made less money than it expectedfrom selling stores in bankruptcy, is asking for an expeditedprocess to organize the auction, according to court documents. aftersuppliers concerned about declining sales at almost 1,500 Canadian stores cut off credit and demanded cash upfront forshipments. The company is engaged in significant discussions,meetings and negotiations with two highly motivated andinterested parties concerning the terms of going concerntransaction, according to the statement which didntidentify the potential buyers.

Losing the loan could strangle the companys ability tocontinue to operate, according to court documents. The Virginia court usuallyrequires companies to wait at least days between the time theyseek permission for hearing and the hearing itself.

The company is engaged in significant discussions,meetings and negotiations with two highly motivated andinterested parties concerning the terms of going concerntransaction, according to the statement which didntidentify the potential buyers. The case is In Re Circuit City Stores Inc., the bankruptconsumerelectronics retailer, said its in talks with twopotential bidders and wants to hold an auction to sell itsbusiness. Tags: environment, easter, arts