Systemax Relaunches CircuitCity.com

Stock quotes in this article: SYX  

PORT WASHINGTON, N.Y. (AP) — Online retailer Systemax Inc. said Friday it has completed the acquisition of Circuit City's online business and relaunched CircuitCity.com.

On Tuesday, Systemax closed on its agreement to acquire trademarks, domain names, customer lists and information of the online business out of bankruptcy for $14 million in cash plus a share of future revenue over 30 months.

A bankruptcy court approved the transaction last week following a public auction.

Circuit City, a 60-year-old electronics retailer based in Richmond, Va., closed its doors in March after failing to successfully emerge as a continuing business from Chapter 11 bankruptcy. It filed for bankruptcy protection in November.

Systemax is the same company that purchased electronics retailer CompUSA's intellectual property when it closed last year. It manufactures and sells consumer electronics online, by direct mail and in retail stores.

Systemax shares fell 27 cents, or 2.2 percent, to close at $12.03.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,441.12 1,109.18 2,206.91 35.96
Oil *
73.55
DOWN
10.88
UP
1.25
UP
5.86
DOWN
0.07
10 Yr
3.60%
SPDR Gold
111.59
-0.10%
+0.11%
+0.27%
-0.19%
Data delayed 20 minutes

More From TheStreet

Latest Headlines

Brokerage Partners

TheStreet Premium Services

All Services