Circuit City Sells Trademarks, Business For $14M+

Law360, New York (May 13, 2009, 12:00 AM EDT) -- Circuit City Stores Inc. has won bankruptcy court approval to sell its U.S. trademarks and its e-commerce business, including Internet domain names and customer information, to Systemax Inc., which manufactures and sells computers and other consumer electronics.

Under the terms of the sale, which was approved Wednesday by Judge Kevin R. Huennekens of the U.S. Bankruptcy Court for the Eastern District of Virginia, Systemax will pay Circuit City $14 million in cash. At least $3 million more is guaranteed over the next 30 months as part...
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