Retailer set to acquire Circuit City brand, Web site

Systemax Inc. has won an auction for Circuit City's brand, trademark and Web site, according to a consulting firm hired by the defunct retailer.

Systemax, a Port Washington, N.Y.-based consumer-electronics retailer, still must get approval from a bankruptcy judge today at a 2 p.m. hearing.

It was unclear last night how much the company paid for the rights to the Circuit City's e-commerce business and intellectual property.

A spokeswoman for Streambank LLC, the intellectual-property consulting firm hired by Circuit City, confirmed the agreement last night. She would not say how much the deal was worth, and court papers had not been filed last evening.

But in papers filed with the U.S. Bankruptcy Court in Richmond last month, Systemax had an opening bid of $6.5 million before the start of an auction.

Systemax had said it would use the Circuit City name to "extend its position as a leader in online retailing."

Systemax sells its products through branded e-commerce Web sites, direct-mail catalogs, relationship marketers and retail stores in North America and Europe. Its primary brands are TigerDirect, CompUSA, Misco and Global Industrial.

The company acquired the brand, trademarks and e-commerce business of CompUSA in January 2008 as well as 16 CompUSA stores. Systemax now operates 23 CompUSA stores in Florida, Illinois, Texas and North Carolina.

However, buying the Circuit City brand and trademarks does not mean the defunct chain is making any sort of comeback. Retail experts say it is not uncommon for companies to live on, under new ownership, in cyberspace.

Henrico County-based Circuit City filed for bankruptcy in November, and it shut its last stores in March. About 34,000 people lost their jobs in the U.S.

Contact Louis Llovio at (804) 649-6348 or .