Which circuit city stores are liquidating
In years past, companies lingered in bankruptcy for many months, even years, as creditors and borrowers hammered out agreements.Today, few people are willing to pursue this long and winding road toward profits.From 2001-07, cheap money allowed finance types to make huge profits by flipping assets and refinancing.Investors thrived by wading into distressed situations and doing the difficult work of cutting costs, restructuring balance sheets, and turning businesses around.But when it couldn't find a buyer, Linens 'n Things decided in October to throw in the towel.Whitehall Jewelers, which filed for Chapter 11 in June, began selling off the family jewels in August.In 2009, consumers won't need to limit themselves to holiday gifts.They may be able to buy everything at going out of business sales.
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For example, the deadline for companies in Chapter 11 to decide whether to assume or terminate store leases has been shortened to 210 days.
Earlier this month, Circuit City, the 567-store electronics retailing giant that filed for bankruptcy protection in November, announced it was going to liquidate.
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