Good news and bad news for Circuit City

Tuesday, November 11th, 2008

Matt is currently working as a writer for TechCrunch. Matt Burns is a family man first and attempts to be a writer second. Born and raised in the heart of the automotive world, only cars eclipse his love of gadgets. He previously wrote for Engadget and EngadgetHD before moving into the party house that is TechCrunch. He learned the retail... → Learn More

Circuit City has a lot to be thankful for this Thankgiving after a $1.1 billion dollar loan from Bank of America. That amount should cover operating expenses and take care of inventory concerns over the holiday season. In addition to yesterdays bankruptcy, Circuit City owes HP and Samsung, among the rest of the debt, over $2.3 billion – $119 million to HP and $117 million to Samsung.

Samsung and HP are even considering withdrawing its wares from Circuit City’s shelves after yesterdays fillings. Maybe after this loan though, you will still be able to buy ‘em for a bit longer. The question then becomes though, how will Circuit City screw it up this time?

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