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	<title>Gizmodo Australia &#187; bankruptcy</title>
	<atom:link href="http://www.gizmodo.com.au/tags/bankruptcy/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.gizmodo.com.au</link>
	<description>the Gadget Guide &#124; Technology and consumer electronics news and reviews</description>
	<lastBuildDate>Sun, 22 Nov 2009 16:03:15 +0000</lastBuildDate>
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			<item>
		<title>Psystar Emerges From Bankruptcy With New Product, Same Insane Resolve</title>
		<link>http://www.gizmodo.com.au/2009/07/psystar-emerges-from-bankruptcy-with-new-product-same-insane-resolve/</link>
		<comments>http://www.gizmodo.com.au/2009/07/psystar-emerges-from-bankruptcy-with-new-product-same-insane-resolve/#comments</comments>
		<pubDate>Thu, 02 Jul 2009 12:30:47 +0000</pubDate>
		<dc:creator>John Herrman</dc:creator>
				<category><![CDATA[Computers]]></category>
		<category><![CDATA[apple]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[hackintosh]]></category>
		<category><![CDATA[mac clones]]></category>
		<category><![CDATA[os x]]></category>
		<category><![CDATA[psystar]]></category>
		<category><![CDATA[psystar bankruptcy]]></category>

		<guid isPermaLink="false">http://www.gizmodo.com.au/?p=340191</guid>
		<description><![CDATA[In what is probably the most surprising non-celebrity-death story in weeks, recently bankrupt Psystar&#8212;surly makers of all things hackintosh&#8212;is now claiming to be ready for a comeback, with a new product in tow. This makes very little sense.
A superquick recap: Psystar releases the OpenMac, a $US400 desktop Mac clone; people debate if this is possibly, [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://cache.gawker.com/assets/images/gizmodo/2009/07/Picture_95.jpg" alt="" class="left" />In what is probably the most surprising non-celebrity-death story in weeks, <a href="http://www.gizmodo.com.au/2009/05/psystar_files_for_bankruptcy-2/">recently bankrupt</a> Psystar&mdash;surly makers of all things hackintosh&mdash;is now <a href="http://www.slashgear.com/psystar-recover-from-bankruptcy-launch-xeon-based-open7-0248498/">claiming</a> to be ready for a comeback, with a new product in tow. This makes <em>very little sense</em>.<span id="more-340191"></span></p>
<p>A superquick recap: Psystar releases the <a href="http://www.gizmodo.com.au/2008/04/psystar_sells_mac_clone_becomes_son_of_daystar-2/">OpenMac</a>, a $US400 desktop Mac clone; people <a href="http://www.gizmodo.com.au/2008/04/mac_clone_maker_psystar_examined_who_are_they_and_why_are_they_so_shady-2/">debate</a> if this is possibly, technically or legally, and if Psystar is a <a href="http://www.gizmodo.com.au/2008/04/psystar_exposed_looks_like_a_hoax-2/">scam</a>; the hackintoshes <a href="http://www.gizmodo.com.au/2008/04/exclusive_video_psystar_in_the_wild/">turn out</a> to be real; <a href="http://www.gizmodo.com.au/2008/04/exclusive_video_psystar_in_the_wild/">they ship</a>; Apple <a href="http://www.gizmodo.com.au/2008/07/apple_demands_recall_of_every_psystar_mac_clone-2/">gets upset</a>; Psystar <a href="http://www.gizmodo.com.au/2008/08/psystar_lawyers_hinting_at_antitrust_defence_against_apple-2/">grandstands</a>; Apple <a href="http://www.gizmodo.com.au/2008/12/shady_organisation_behind_psystar_apple_claims-2/">continues</a> to be upset; <a href="http://www.gizmodo.com.au/2009/05/psystar_files_for_bankruptcy-2/">Psystar gets murdered</a>. <a href="http://gizmodo.com/5287394/psystar-owes-apple-75k-for-some-reason">To death</a>.</p>
<p>That was the story a few weeks ago, at least. Now Psystar is basically acting like nothing happened, releasing a fresh bootloader, a new computer&mdash;the $US1500, i7-based Open(7) desktop&mdash;and revisiting their old, defiant tone in an <a href="http://www.tuaw.com/2009/07/01/psystar-letter/">email newsletter</a>:</p>
<blockquote><p>As you all may already be aware in late May, Psystar filed for bankruptcy protection. Although this was critical to our continued daily operations, we are now ready to emerge and again battle Goliath.</p></blockquote>
<p> The whole thing is reproduced below, and definitely worth reading.</p>
<p>Psystar&#8217;s been subject to all manner or canonisation, criticism, popular support and backlash, but now I don&#8217;t know what to think. On the one hand, all their talk about monopolies, freedom and victimisation (David and Goliath? So you&#8217;re going to <em>kill</em> Apple?) always stuck me as a little hollow. On the other, it now appears as though the guys who run Psystar are either clinically insane, extremely persistent, or unusually ballsy. Or, of course, all three. [<a href="http://www.tuaw.com/2009/07/01/psystar-letter/">TUAW</a> via <a href="http://www.neowin.net/news/main/09/07/02/psystar-recovering-from-bankruptcy-still-making-products">Neowin</a> via <a href="http://www.slashgear.com/psystar-recover-from-bankruptcy-launch-xeon-based-open7-0248498/">Slashgear</a>]</p>
<p><img src="http://cache.gawker.com/assets/images/gizmodo/2009/07/psytarletter.jpg" alt="" class="left" /></p>
]]></content:encoded>
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		</item>
		<item>
		<title>Psystar Files for Bankruptcy</title>
		<link>http://www.gizmodo.com.au/2009/05/psystar_files_for_bankruptcy-2/</link>
		<comments>http://www.gizmodo.com.au/2009/05/psystar_files_for_bankruptcy-2/#comments</comments>
		<pubDate>Tue, 26 May 2009 17:46:17 +0000</pubDate>
		<dc:creator>Jesus Diaz</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[apple]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[hackintosh]]></category>
		<category><![CDATA[psystar]]></category>

		<guid isPermaLink="false">http://www.gizmodo.com.au/2009/05/psystar_files_for_bankruptcy-2.html</guid>
		<description><![CDATA[
Psystar&#8212;those guys who were pilfering software from the Hackintosh project to run Mac OS X in blah PC hardware&#8212;has filed for Chapter 11. Good riddance, is all I can say. Although this may be a shady legal strategy on their part.


Under Federal bankruptcy protection laws, all cases against the company should be put on hold. [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://cache.gawker.com/assets/images/gizmodo/2009/05/psystarmorons.jpg" alt="" /></p>
<p>Psystar&mdash;those guys who were pilfering software from the Hackintosh project to <a href="http://www.gizmodo.com.au/2009/04/unboxed_psystar_open3_looks_like_any_other_hackintosh-2.html">run Mac OS X in blah PC hardware</a>&mdash;has filed for Chapter 11. Good riddance, is all I can say. Although this may be a shady legal strategy on their part.</p>
<p><!-- Gawker Tags/Categories: apple, bankruptcy, chapter 11, hackintosh, morons, psystar --><br />
<span id="more-336382"></span>
<p>Under Federal bankruptcy protection laws, all cases against the company should be put on hold. This means that Apple will have to wait on <a href="v">their case against Psystar</a>. The first bankruptcy hearing will be held in Florida next June 5. At that time, we may find who the hell are the financial backers behind the company.</p>
<p>But while all this happens, the keep selling machines on their site. I don&#8217;t know about you, but I wouldn&#8217;t get near these guys even while wearing a biochemical war suit. [<a href="http://www.macobserver.com/tmo/article/psystar_files_bankruptcy_stalls_apples_case/">Mac Observer</a>]</p>
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		<item>
		<title>Ugobe Folds, Pleo Goes the Way of the Dinosaur</title>
		<link>http://www.gizmodo.com.au/2009/04/ugobe_folds_pleo_goes_the_way_of_the_dinosaur-2/</link>
		<comments>http://www.gizmodo.com.au/2009/04/ugobe_folds_pleo_goes_the_way_of_the_dinosaur-2/#comments</comments>
		<pubDate>Tue, 21 Apr 2009 08:08:21 +0000</pubDate>
		<dc:creator>John Herrman</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[pleo]]></category>
		<category><![CDATA[Robots]]></category>
		<category><![CDATA[Toys]]></category>
		<category><![CDATA[ugobe]]></category>

		<guid isPermaLink="false">http://www.gizmodo.com.au/2009/04/ugobe_folds_pleo_goes_the_way_of_the_dinosaur-2.html</guid>
		<description><![CDATA[
You can blame it on the grim economy, or you can blame it on the fact that Ugobe&#8217;s entire business depended on plush robotic dinosaurs. Either way, the Pleo has antagonised its last Labrador.


The company has filed for Chapter 7 bankruptcy&#8212;the kind of bankruptcy that&#8217;s most like a tremendous meteor&#8212;and fired all of its workers. [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://cache.gawker.com/assets/images/gizmodo/2009/04/goodbye_my_sweet_pleo.jpg" alt="" /></p>
<p>You can blame it on the grim economy, or you can blame it on the fact that Ugobe&#8217;s <em>entire business</em> depended on plush robotic dinosaurs. Either way, the Pleo has <a href="http://www.gizmodo.com.au/2007/12/pleo_meets_dogs_dogs_dont_like.html">antagonised its last Labrador.</a></p>
<p><!-- Gawker Tags/Categories: pleo, bankruptcy, pleo bankrupt, pleo extinction, robots, toys, ugobe, ugobe pleo --><br />
<span id="more-334669"></span>
<p>The company has filed for Chapter 7 bankruptcy&mdash;the kind of bankruptcy that&#8217;s most like a tremendous meteor&mdash;and fired all of its workers. This is sad news for Pleo fans and horrible news for the now-ex-employees, but one part of the report was surprising: Over 100,000 Pleos, which retail at $US350, were sold in the last year alone.</p>
<p>Existing Pleos will be left to act out a sad, allegorical version of <em>The Land Before Time</em>, in which, having seen their mother (Ugobe) killed by a T-Rex (bankruptcy proceedings), they will, uhh, sit unused in a closet until their batteries start leaking. The later sequels were kind of weird, OK? [<a href="http://www.idahostatesman.com/business/story/741879.html">Idaho Statesman</a>]</p>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Ritz Camera Shuttering Nearly Half Their Stores</title>
		<link>http://www.gizmodo.com.au/2009/04/ritz_camera_shuttering_nearly_half_their_stores-2/</link>
		<comments>http://www.gizmodo.com.au/2009/04/ritz_camera_shuttering_nearly_half_their_stores-2/#comments</comments>
		<pubDate>Fri, 03 Apr 2009 11:15:58 +0000</pubDate>
		<dc:creator>John Herrman</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[brief]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[liquidation]]></category>
		<category><![CDATA[ritz]]></category>

		<guid isPermaLink="false">http://www.gizmodo.com.au/2009/04/ritz_camera_shuttering_nearly_half_their_stores-2.html</guid>
		<description><![CDATA[Get it? Shuttering? Developing? Oh, right, hundreds of Ritz employees are losing their livelihoods, and towns across the country are being deprived of their last standalone camera shop. This is actually extremely sad.


The company filed for Chapter 11 bankruptcy back in February, but these 300 liquidations are the first serious manifestation of its decline. This [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://cache.gawker.com/assets/images/gizmodo/2009/04/ritz.jpg" alt="" />Get it? Shuttering? <em>Developing</em>? Oh, right, hundreds of Ritz employees are losing their livelihoods, and towns across the country are being deprived of their last standalone camera shop. This is actually extremely sad.</p>
<p><!-- Gawker Tags/Categories: developing, bankruptcy, economy, liquidations, ritz, ritz camera, ritz camera closings, ritz liquidations --><br />
<span id="more-333027"></span>
<p>The company <a href="http://www.gizmodo.com.au/2009/02/ritz_camera_files_for_bankruptcy-2.html">filed for Chapter 11 bankruptcy</a> back in February, but these 300 liquidations are the first serious manifestation of its decline. This is terrible news all around, but could have been predicted; film developing is a dead business, and the increasingly homogeneous nature of point-and-shoot cameras and the spec-centric marketing of DSLRs favours impersonal, cheap and convenient retailers like Best Buy and Walmart</p>
<p>And that&#8217;s not to mention online retailers, bolstered by the magisterial advice of sites like <a href="http://dpreview.com">DPReview</a>&mdash;a sort of digital equivalent to the archetypal old Grizzled Local Camera Store Vet. That said, for the average consumer this is a loss&mdash;good luck asking the kid at your local Target which of their cameras has the best high-ISO noise reduction. [<a href="http://www.marketwatch.com/news/story/ritz-camera-close-more-300/story.aspx?guid={216A0BEF-9597-4674-B583-67555DE10B6C}&#038;dist=msr_1">MarketWatch</a>]</p>
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		</item>
		<item>
		<title>Circuit City Stores to Close Forever on March 8th</title>
		<link>http://www.gizmodo.com.au/2009/03/circuit_city_stores_to_close_forever_on_march_8th-2/</link>
		<comments>http://www.gizmodo.com.au/2009/03/circuit_city_stores_to_close_forever_on_march_8th-2/#comments</comments>
		<pubDate>Fri, 06 Mar 2009 12:40:53 +0000</pubDate>
		<dc:creator>Mark Wilson</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[brief]]></category>
		<category><![CDATA[circuit city]]></category>

		<guid isPermaLink="false">http://www.gizmodo.com.au/2009/03/circuit_city_stores_to_close_forever_on_march_8th-2.html</guid>
		<description><![CDATA[Liquidators who are squeezing the last life blood out of Circuit City announced that all remaining stores will close by the end of the business day on March 8th. Farewell old acquaintance. [BusinessWire]


]]></description>
			<content:encoded><![CDATA[<p><img src="http://cache.gawker.com/assets/images/gizmodo/2009/03/circuitcityfire_01-1.jpg" alt="" />Liquidators who are squeezing the last life blood out of Circuit City announced that all remaining stores will close by the end of the business day on March 8th. Farewell old acquaintance. [<a href="http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&#038;newsId=20090305006323&#038;newsLang=en">BusinessWire</a>]</p>
<p><!-- Gawker Tags/Categories: liquidation, bankruptcy, circuit city, circuit city closing date, retail --><br />
<span id="more-329753"></span></p>
]]></content:encoded>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Blockbuster Hires Firm, Thinks About Bankruptcy</title>
		<link>http://www.gizmodo.com.au/2009/03/blockbuster_hires_firm_thinks_about_bankruptcy-2/</link>
		<comments>http://www.gizmodo.com.au/2009/03/blockbuster_hires_firm_thinks_about_bankruptcy-2/#comments</comments>
		<pubDate>Tue, 03 Mar 2009 18:58:43 +0000</pubDate>
		<dc:creator>Jason Chen</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[blockbuster]]></category>
		<category><![CDATA[financiapocalypse]]></category>

		<guid isPermaLink="false">http://www.gizmodo.com.au/2009/03/blockbuster_hires_firm_thinks_about_bankruptcy-2.html</guid>
		<description><![CDATA[Blockbuster&#8217;s reportedly hired a firm to explore bankruptcy options, mulling whether or not they should declare bankruptcy or restructure or both. [Dallas News]


]]></description>
			<content:encoded><![CDATA[<p>Blockbuster&#8217;s reportedly hired a firm to explore bankruptcy options, mulling whether or not they should declare bankruptcy or restructure or both. [<a href="http://www.dallasnews.com/sharedcontent/dws/bus/stories/030409dnbusblockbuster.20c5600e.html">Dallas News</a>]</p>
<p><!-- Gawker Tags/Categories: blockbuster, bankruptcy, blockbuster bankruptcy, business news --><br />
<span id="more-329321"></span></p>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Sirius XM Gets Bailed Out By Owners of QVC, Avoids Bankruptcy Scare</title>
		<link>http://www.gizmodo.com.au/2009/02/sirius_xm_gets_bailed_out_by_owners_of_qvc_avoids_bankruptcy_scare-2/</link>
		<comments>http://www.gizmodo.com.au/2009/02/sirius_xm_gets_bailed_out_by_owners_of_qvc_avoids_bankruptcy_scare-2/#comments</comments>
		<pubDate>Tue, 17 Feb 2009 14:54:20 +0000</pubDate>
		<dc:creator>John Mahoney</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[brief]]></category>
		<category><![CDATA[Entertainment]]></category>
		<category><![CDATA[internet radio]]></category>
		<category><![CDATA[sirius]]></category>
		<category><![CDATA[usa]]></category>
		<category><![CDATA[xm]]></category>

		<guid isPermaLink="false">http://www.gizmodo.com.au/2009/02/sirius_xm_gets_bailed_out_by_owners_of_qvc_avoids_bankruptcy_scare-2.html</guid>
		<description><![CDATA[Liberty Media (proud owners of Starz, QVC and a 48% chunk of DirecTV) made a last-minute deal with Sirius XM, whose impending bankruptcy would have been the second biggest Chapter-11 filing this year.


Even though service would have likely continued uninterrupted had the freshly-merged company actually filed for bankruptcy, Sirius XM&#8217;s days of luring in top [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://cache.gawker.com/assets/images/gizmodo/2009/02/sirius_qvc.jpg" alt="" />Liberty Media (proud owners of Starz, QVC and a 48% chunk of DirecTV) <a href="http://dealbook.blogs.nytimes.com/2009/02/17/sirius-xm-reaches-loan-deal-with-liberty/?hp">made a last-minute deal with Sirius XM</a>, whose <a href="http://www.gizmodo.com.au/2009/02/sirius_xm_is_going_bankrupt.html">impending bankruptcy</a> would have been the second biggest Chapter-11 filing this year.</p>
<p><!-- Gawker Tags/Categories: sirius xm, bankruptcy, financiapocalpyse, money, qvc, satellite radio, sirius, xm radio --><br />
<span id="more-327451"></span>
<p>Even though service would have likely continued uninterrupted had the freshly-merged company actually filed for bankruptcy, Sirius XM&#8217;s days of luring in top radio jock talent on big contracts would have likely been over. Now, thankfully, we can carry on without skimping on the Howard Stern. [<a href="http://dealbook.blogs.nytimes.com/2009/02/17/sirius-xm-reaches-loan-deal-with-liberty/?hp">NY Times</a>]</p>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Sirius XM Is Going Bankrupt</title>
		<link>http://www.gizmodo.com.au/2009/02/sirius_xm_is_going_bankrupt/</link>
		<comments>http://www.gizmodo.com.au/2009/02/sirius_xm_is_going_bankrupt/#comments</comments>
		<pubDate>Tue, 10 Feb 2009 21:18:06 +0000</pubDate>
		<dc:creator>Matt Buchanan</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[satellite radio]]></category>
		<category><![CDATA[sirius]]></category>
		<category><![CDATA[xm]]></category>

		<guid isPermaLink="false">http://www.gizmodo.com.au/2009/02/sirius_xm_is_going_bankrupt.html</guid>
		<description><![CDATA[I hope you are carrying an umbrella because dead satellites are going to rain our heads: Satellite radio Frankenstein XM Sirius is preparing &#8220;a possible bankruptcy filing.&#8221; All that for bankrupcty? [NYT - Thanks Ponies!]

]]></description>
			<content:encoded><![CDATA[<p><img src="http://cache.gawker.com/assets/images/gizmodo/2009/02/XM_Sirius_Dual_Receiver.jpg" alt="" />I hope you are carrying an umbrella because dead satellites are going to rain our heads: Satellite radio Frankenstein XM Sirius is preparing &#8220;a possible bankruptcy filing.&#8221; <a href="http://www.gizmodo.com.au/2008/07/siriusxm_merger_is_finally_approved-2.html">All that</a> for bankrupcty? [<a href="http://www.nytimes.com/2009/02/11/technology/companies/11radio.html?_r=2&#038;ref=technology">NYT</a> - <em>Thanks Ponies!</em>]</p>
<p><!-- Gawker Tags/Categories: xm sirius, bankruptcy, satellite radio, sirius, xm, xm sirius bankrupt --><span id="more-326529"></span></p>
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		<slash:comments>1</slash:comments>
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		<item>
		<title>Circuit City Closeout Deals Aren&#8217;t Deals At All</title>
		<link>http://www.gizmodo.com.au/2009/01/circuit_city_closeout_deals_arent_deals_at_all-2/</link>
		<comments>http://www.gizmodo.com.au/2009/01/circuit_city_closeout_deals_arent_deals_at_all-2/#comments</comments>
		<pubDate>Mon, 19 Jan 2009 04:50:24 +0000</pubDate>
		<dc:creator>Wilson Rothman</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[brief]]></category>
		<category><![CDATA[circuit city]]></category>
		<category><![CDATA[Deals]]></category>
		<category><![CDATA[liquidation]]></category>

		<guid isPermaLink="false">http://www.gizmodo.com.au/2009/01/circuit_city_closeout_deals_arent_deals_at_all-2.html</guid>
		<description><![CDATA[Those poor saps who bumrushed Circuit City this weekend thinking they&#8217;d save money on a TV were paying more&#8212;before sales tax&#8212;than at most online stores, according to HDGuru and our own quick survey.


Gary at HDGuru checked out a store in Long Island and found that the Panasonic TH42PZ85U that lists for $US1100 was selling for [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://cache.gawker.com/assets/images/gizmodo/2009/01/Circuit_City_pricing.jpg" style="display:block;" />Those poor saps who <a href="http://www.gizmodo.com.au/2009/01/liquidation_overlords_utter_chaos_have_taken_over_circuit_city.html">bumrushed Circuit City</a> this weekend thinking they&#8217;d save money on a TV were paying more&mdash;before sales tax&mdash;than at most online stores, according to <a href="http://hdguru.com/circuit-city%E2%80%99s-liquidation-sale-deal-or-no-deal/338/">HDGuru</a> and our own quick survey.</p>
<p><!-- Gawker Tags/Categories: circuit city, circuit city liquidation, circuit city rip, electronics store, retail --><br />
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<p>Gary at HDGuru checked out a store in Long Island and found that the Panasonic TH42PZ85U that lists for $US1100 was selling for $US990, but PriceGrabber offered it as low as $US930. Ditto for Sony&#8217;s $US2800 KDL46XBR6, which sells for $US2520 at Circuit City but online for $US1975.</p>
<p>Lest you think this is a one-off thing, and that the Long Island store might not have been representative, my conversations with someone at an Orange County, California Circuit City revealed more or less the same pricing on mainstream Panasonic and Samsung models. I cross checked them with Amazon, and they were available online for substantially less, and that was before I factored the free shipping and sales tax breaks.</p>
<p>We only checked TVs, but knowing CC&#8217;s historically crappy pricing, I can only assume this is a trend. Did any of you make a run for it? And if so, did you get any actual deals? [<a href="http://hdguru.com/circuit-city%E2%80%99s-liquidation-sale-deal-or-no-deal/338/">HDGuru</a>]</p>
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		<title>Circuit City Trying to Sell, Liquidation Possible After January 16th</title>
		<link>http://www.gizmodo.com.au/2009/01/circuit_city_trying_to_sell_liquidation_possible_after_january_16th-2/</link>
		<comments>http://www.gizmodo.com.au/2009/01/circuit_city_trying_to_sell_liquidation_possible_after_january_16th-2/#comments</comments>
		<pubDate>Fri, 09 Jan 2009 19:00:00 +0000</pubDate>
		<dc:creator>Sean Fallon</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[brief]]></category>
		<category><![CDATA[circuit city]]></category>

		<guid isPermaLink="false">http://www.gizmodo.com.au/2009/01/circuit_city_trying_to_sell_liquidation_possible_after_january_16th-2.html</guid>
		<description><![CDATA[Ever since Circuit City filed for bankruptcy protection in November, everyone has been wondering how long they would hang on. Today they clarified their present situation, indicating that liquidation is possible after January 16th.


Currently, Circuit City is negotiating with &#8220;two interested parties&#8221; about selling off the company in a going concern transaction. The motion, filed [...]]]></description>
			<content:encoded><![CDATA[<p><img src="http://cache.gawker.com/assets/images/gizmodo/2009/01/494x_circuitcitytumbleweed.jpg" style="display:block;" />Ever since Circuit City <a href="http://www.gizmodo.com.au/2008/11/circuit_city_goes_bankrupt_files_for_chapter_11_protection-2.html">filed for bankruptcy protection</a> in November, everyone has been wondering how long they would hang on. Today they clarified their present situation, indicating that liquidation is possible after January 16th.</p>
<p><!-- Gawker Tags/Categories: circuit city, chapter 11, circuit city bankruptcy, circuit city liquidation --><br />
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<p>Currently, Circuit City is negotiating with &#8220;two interested parties&#8221; about selling off the company in a <a href="http://en.wikipedia.org/wiki/Going_concern">going concern</a> transaction. The motion, filed with the Bankruptcy court indicates that an auction of the company and its assets would commence on January 13, and a sale hearing would occur on January 16, 2009. If a sale does not occur, the company can begin to liquidate. The full details are available in the press release, but the long-and-short of it is that the clock is ticking on Circuit City unless they can get a deal done really, really soon. [<a href="http://investor.circuitcity.com/releasedetail.cfm?ReleaseID=358471">Circuit City</a> via <a href="http://finance.yahoo.com/news/Circuit-City-Stores-Inc-prnews-14013605.html">Yahoo</a>]</p>
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