Circuit City Sells Corporate Jet for $4.7 Million20 Jan, 2009 By: Erik Gruenwedel
Finding a deal at bankrupt and shuttered Circuit City stores might require patience, but apparently not if you are in the market for a corporate jet.
The Richmond, Va.-based No. 2 consumer electronics retailer Jan. 20 said it sold a 1996 Hawker 800XP for $4.75 million to Tacala Inc., a Birmingham, Ala.-based operator of 130 Taco Bell restaurants, following an auction Jan. 14.
Introduced in 1995, the Hawker 800XP seats eight people with a range of 2,900 miles and top speed of 455 m.p.h.
U.S. Bankruptcy Court in Richmond approved the purchase.
Circuit City last week ceased operations of 567 U.S. stores and subsequent liquidation sales have attracted large crowds despite relatively modest product price discounts.