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Circuit City courts 'interested parties'
Circuit City Stores said Friday it is in talks with two interested parties that could buy the company or provide additional financing for it to stay in business.
Circuit City, the nation's second-largest electronics retailer after Best Buy filed for Chapter 11 bankruptcy protection in November as it faced pressure from vendors, heightened competition and waning consumer spending. Its Canadian operations filed for similar protection.
The company on Monday filed a motion under seal with the US Bankruptcy Court seeking approval for its sale as a going concern, either as separate units or as individual assets. An expediting hearing is scheduled for Friday afternoon.
