Only a week ago Circuit City announced that the company is closing 20% of its stores, now the company has filed for bankruptcy protection. The company owes a total of $294 to companies including HP, Samsung and Sony. According to The Wall Street Journal:
Circuit City Stores Inc., which filed for Chapter 11 bankruptcy protection Monday, owes Hewlett-Packard Co. more than $118 million, according to court documents filed Monday by the retail chain.
H-P, which sells personal computers and printers at Circuit City, is the store’s largest unsecured creditor. H-P ranks ahead of Samsung Electronics Co.–to which Circuit City owes nearly $116 million–and Sony Corp., which is owed $60 million.
bankruptcy is really a dangerous case!
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