Systemax, owner of Tiger Direct, scooped up the remains of Circuit City last year for $14 million, a year after buying CompUSA for $30 million. Now the corporation has opened some new CompUSA stores and is considering doing the same for Circuit City, Chicago Breaking Business News reports:
It already revived Circuit City as an Internet retailer last June, and is contemplating a brick-and-mortar rebirth for that brand as well.
“Recession hurts, but it also creates opportunities that would not have existed otherwise,” said Systemax Chief Executive Richard Leeds.
“We have a tremendous amount of excitement around our company now because of these acquisitions.,” he said. “We picked up two iconic retail brands for well under $50 million. That to me is the bargain of the century.”
Circuit City’s return seemingly might help keep Best Buy honest. Are you looking forward to seeing the stores sprout up again, or are you not yet done dancing on the company’s grave?