Nortel Gives Up on Restructuring, Will Sell Assets to Nokia-Siemens Networks
After declaring bankruptcy in January, Canadian telecommunications conglomerate Nortel Networks has decided to end its current restructuring activity and will liquidate all of its core assets by accepting a $650 million bid by Nokia Siemens Networks for the most lucrative part of its carrier-networks division and a wireless-research unit in a statement filed on Friday. […]
Circuit City to Liquidate Entire Chain, Shut Down by March 31st
Bankrupt retailer Circuit City has filed a motion in bankruptcy court to receive permission to sell all remaining stock at its 567 remaining stores and begin a complete liquidation of all assets starting on Saturday January 17th with the liquidation to be complete by March 31st, which marks the end of the 1st quarter. Circuit […]