Word comes this morning that Systemax, who also owns the name and web presence of CompUSA, has won Circuit City’s name and web presence at auction. Systemax sells under the retail name of TigerDirect, which many geeks know and love. Systemax was the “stalking horse” approved to get all of Circuit City’s inventory last month.
The name and web presence deal still has to be approved by the bankruptcy court, but look to see Circuit City’s remaining inventory to appear on TigerDirect in short order.
Systemax pulled what was left of CompUSA out of bankruptcy two years ago, and runs retail stores under that name in Florida, Illinois, Texas, North Carolina, and Puerto Rico. TigerDirect is strictly an online retailer.
Systemax NYSE price dropped over a dollar on word of the acquisition of Circuit City’s name and web presence.