Saturday, Jul 23, 2016
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Circuit City CEO says chain not seeking to sell

RICHMOND, Va. Circuit City Stores Inc. is focused on turning its business around and is not looking to sell itself, Chief Executive Officer Philip Schoonover said yesterday in an interview at the company s headquarters here.

He also said Circuit City had not been approached by a potential suitor.

The consumer electronics chain has posted losses in the past year and its stock price has tumbled to multi-year lows, prompting some analysts to speculate that it could be ripe for a takeover.

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