Circuit City (
CC) has reached a deal to be fully liquidated after failing to find a buyer or a refinancing deal.
The electronics retailer reached an agreement with liquidators to sell the merchandise in its 567 domestic stores
“Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company."
People with Circuit City warranties might be out of options.
http://www.foxbusiness.com/story/mar...aining-stores/
This is what happens when you bail out the lenders????
Reminds me of a parable
Mat 18:23 Therefore the kingdom of Heaven has been compared to a certain king who desired to make an accounting with his servants.
Mat 18:24 And when he had begun to count, one was brought to him who owed him ten thousand talents.
Mat 18:25 But as he had nothing to pay, his lord commanded that he, and his wife and children, and all that he had, be sold, and payment be made.
Mat 18:26 Then the servant fell down and worshiped him, saying, Lord, have patience with me and I will pay you all.
Mat 18:27 Then the lord of that servant was moved with compassion and released him and forgave him the debt.
Mat 18:28 But the same servant went out and found one of his fellow servants who owed him a hundred denarii. And he laid hands on him and took him by the throat, saying, Pay me what you owe.
Mat 18:29 And his fellow servant fell down at his feet and begged him, saying, Have patience with me and I will pay you all.
Mat 18:30 And he would not, but went and cast him into prison until he should pay the debt.
Mat 18:31 So when his fellow servants saw what was done, they were very sorry. And they came and told their lord all that was done.
Mat 18:32 Then his lord, after he had called him, said to him, O wicked servant, I forgave you all that debt because you begged me.
Mat 18:33 Should you not also have pitied your fellow servant, even as I had pity on you?
Mat 18:34 And his lord was angry, and delivered him to the tormentors until he should pay all that was due to him.
Mat 18:35 So likewise shall My heavenly Father do also to you, unless each one of you from your hearts forgive his brother their trespasses.
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