Systemax, Inc. has won a bankruptcy auction to acquire Circuity City’s intellectual property and its e-commerce business, according to a Reuters. The deal is still subject to approval by the bankruptcy court in Richmond, which is scheduled to decide Wednesday. The now defunct chain was headquartered in Short Pump.
Systemax, which also owns CompUSA and TigerDirect, originally offered a bid of $6.5 million plus a portion of revenue over a two-and-a-half year period. No word on what the final deal terms were.
You can read the Reuters article here.
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