Circuit City completes sale of Canadian assets
From AP News | 2009-07-03 07:26:25
<div id="subtitle">Circuit City completes sale of Canadian assets to Bell Canada</div><div><p>Electronics retailer Circuit City, which closed all its U.S. stores, has sold its Canadian stores to telecommunications company Bell Canada.</p><p>The entity Bell Canada acquired, InterTAN Canada, controls 750 The Source electronics stores. Bell Canada bought it for $116.8 million, plus $30.3 million for working capital, according to documents filed Thursday with the U.S. Securities and Exchange Commission.</p><p>Bell Canada said it will use the stores to offer a range of consumer products, such as Bell Mobility and Virgin Mobile cell phones and television, Internet and phone products and services.</p><p>Circuit City filed for Chapter 11 bankruptcy court protection in November 2008 and closed its 567 remaining U.S. stores in March.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=54119182&bid=informcom" /></div><div id="copyright"><div>
Copyright 2009 <a href="http://www.ap.org">AP News</a></div></div>
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