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Circuit City in Talks with Interested Parties

Circuit City Stores Inc. said Friday it is in talks with two interested parties about the terms of a going concern transaction.

A going concern is a company that has the resources to stay in business. Circuit City, the second-largest electronics retailer in the U.S. after Best Buy, filed for bankruptcy protection in November as it faced pressure from vendors and as consumer spending waned.

Monday, the company filed a motion with the Bankruptcy Court seeking approval for its sale as a going concern, either as separate units or as individual assets.

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