Systemax wins bidding for bankrupt Circuit City

Systemax, a consumer electronics company that sells electronics to stores like CompUSA, has won a bid to purchase Circuit City which was forced to liquidate and declare bankruptcy last November after a deal for the sale of the company fell through.  

Systemax is reported to have won the bid at $14 million for the e-commerce business and intellectual property of the bankrupt Circuit City.  

Systemax believes that the purchase of the business will allow them to continue expanding their online marketing of electronic supplies and grow their industry and profit in the long run.  

Other leading bidders for the purchase of the bankrupt Circuit City had included Gordon Brothers Brands and Hilco Consumer Capital, but were eventually outbid by Systemax.  

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