Founded in 1949, Circuit City became the second-largest retailer for televisions and other electronics before it filed for bankruptcy protection in 2008. Unable to find a buyer or financing, Circuit City was liquidated, with its final stores closing in early 2009.
Circuit City was acquired by private company Systemax, a private label computer and electronics manufacturer, in 2009 for $14 million. Today, the defunct retailer's brand name doesn't appear to be gaining much traction with customers or other manufacturers. At a recent investors' conference, Systemax's CFO said the value of the brand has "turned out to be on the more modest side of what our expectation was." Systemax continues to explore other ways to license the brand outside of selling electronics through its website
Iconic brands live on even after bankruptcy and liquidation, More buyers are making bets on the resuscitation of dead brand names.
|How celebrities' nude photos get leaked|
|fast-food worker strike|
|Russian ruble slides to all-time low as new sanctions loom|
|The cult of Xiaomi seeks world domination|
|Premarkets: 4 things to know before the open|