Circuit City Still Lives On ... In Bankruptcy Court

Author:
Publish date:
Social count:
135

Nov. 10 marked the beginning of the 10th year of Circuit City’s Chapter 11-turned-liquidation case, with only one claim left to be resolved (by the State of Virginia, which says it’s owed taxes). In the meantime, lawyers, accountants, financial advisers and real estate consultants have racked up more than $182 million in professional fees, while the last seven remaining Circuit City employees, remnants of the retailer’s finance department, continue to toil for the bankruptcy estate.

“Like a zombie refusing to go down for the count, one of the largest and longest-running corporate bankruptcies in recent Richmond memory lurches on.”

See the full story at Richmond BizSense.

Featured

Related Articles