Circuit City auction cancelled due to lack of interest
US-based bankrupt electronics chain Circuit City has said that it did not receive enough bids on leases for stores it plans to shut, forcing it to cancel an auction set for 18 December. Circuit City is in the process of liquidating merchandise at 155 stores in 55 US markets and plans to conclude those sales by the end of the month. A notice of the auction cancellation posted on the website of the company's bankruptcy administrators said the chain "did not receive any bids on leases the substance of which required them to post information on this website or otherwise transmit information to any landlords".
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