Bankrupt Circuit City’s brand, trademarks and e-commerce business were sold on Wednesday for $14 million to Systemax Inc., the same company that purchased electronics retailer CompUSA’s intellectual property when it closed in 2008.
U.S. Bankruptcy Court Judge Kevin R. Huennekens approved the results from an auction that took place Monday. New York-based Systemax also agreed to pay Circuit City at least $3 million from its revenue from the assets over 30 months.
wire reports
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