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Just last week it appeared like a bankruptcy was the inevitable for satellite provider Sirius XM, but how quickly things can change.  Liberty Media Corporation has just stepped in and saved them with a loan for a whopping $530 million.  The loan will be given in two parts with the… Continue Reading »

New reports are claiming that Sirius XM is “within days” of filing for Chapter 11 bankruptcy.  According to a New York Times report, the company is currently “working with advisers to prepare for a possible bankruptcy filing.”  So, as of now, they are considering the option, which means they have… Continue Reading »

As soon as news hit that Circuit City would be holding liquidation sales at its remaining US locations, buyers began to line up around the block in hopes of scoring the best deals.  Liquidation companies came in and started dramatically slashing prices in order to make the most bank off… Continue Reading »

The bricks and mortar retail giant that once was - Circuit City - announced Chapter 11 bankruptcy protection back in November.  Now, the company has issued an update stating that they are putting themselves up for sale as a “going concern” - meaning the company will continue to operate as… Continue Reading »

Just last week, Circuit City announced plans to close a fifth of its stores.  This morning, they just filed for Chapter 11 protection in the U.S. Bankruptcy Court. The petition for Chapter 11 protection in U.S. Bankruptcy Court in Richmond, Virginia, listed $3.4 billion in assets and $2.32 billion in… Continue Reading »

The Tempe, Arizona based Syntax-Brillian Corp has filed for Chapter 11 bankruptcy, after weak sales and numerous other problems.  The corporation, formed when Syntax Group and Brillian Corp merged, is the parent of the Olevia brand of LCD TVs, which will no longer be produced.  Syntax-Brillian’s assets were worth $175.7… Continue Reading »