TigerDirect’s parent company to buy Circuit City’s brand

By on April 15, 2009, 1:10 PM
Just days after bringing CompUSA back from the dead, with 30 new stores nationwide and a fresh “retail 2.0” strategy, Systemax has set its sights on yet another defunct electronics vendor: Circuit City. The parent company of online retailer TigerDirect has agreed to purchase its trademarks and domain names for $6.5 million, according to reports, in an auction of Circuit City assets to take place on May 11.

Systemax believes the transaction would “further extend its position as a leader in online retailing of value-priced, branded consumer electronics.” Other companies may also take part on the auction. If Systemax ends up as the winning bidder it's not inconceivable that Circuit may regain at least a little of its former brick-and-mortar presence. The once second-largest electronics retailer ran 567 stores in the U.S. before going out of business and putting nearly 40,000 employees out of work.




Add New Comment

TechSpot Members
Login or sign up for free,
it takes about 30 seconds.
You may also...
Get complete access to the TechSpot community. Join thousands of technology enthusiasts that contribute and share knowledge in our forum. Get a private inbox, upload your own photo gallery and more.