Systemax bids on Circuit City's intellectual property, e-commerce business

Share this content:

Bankrupt retailer Circuit City Stores Inc. has entered a stalking horse agreement with multichannel electronics merchant Systemax Inc. to acquire its brand, trademarks and e-commerce business for $6.5 million, according to a report from the Associated Press.  

A stalking horse agreement is an initial offer for a bankrupt company's assets from an interested buyer chosen by the company.

Systemax manufactures and sells consumer electronics via the TigerDirect brand. In January 2008, it acquired the intellectual property of bankrupt CompUSA.

There will an opportunity for other companies to bid on Circuit City's intellectual property if a federal bankruptcy court judge grants a motion for an auction next month.

CircuitCity.com is currently closed and has posted a page informing visitors that the company anticipates “the Web site will reopen in the coming weeks.”

close

Next Article in Multichannel Marketing

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above