ccs022309_8k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
___________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event
reported): February 17, 2009
___________
CIRCUIT
CITY STORES, INC.
(Exact
name of registrant as specified in its charter)
Virginia
(State
or other jurisdiction
of
incorporation)
|
1-5767
(Commission
File Number)
|
54-0493875
(I.R.S.
Employer
Identification
No.)
|
|
|
|
9950
Mayland Drive
Richmond,
Virginia
(Address
of principal executive offices)
|
23233
(Zip
Code)
|
Registrant’s
telephone number, including area code: (804) 486-4000
Not
Applicable
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01
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Entry
into a Material Definitive
Agreement.
|
On
February 17, 2009, the United States Bankruptcy Court for the Eastern District
of Virginia, which has jurisdiction over the reorganization proceedings under
Chapter 11 of the United States Bankruptcy Code for Circuit City Stores, Inc.
(the “Company”) and each of its wholly-owned United States and Puerto Rican
subsidiaries, entered on its docket an order (the “Order”) granting approval of
a Third Amendment to Senior Secured, Super-Priority, Debtor-in-Possession Credit
Agreement (the “DIP Credit Agreement”) dated as of January 17, 2009 by and among
Circuit City Stores, Inc. and certain of its subsidiaries, the banks named in
the DIP Credit Agreement as Lenders, Bank of America, N.A., Bank of America
(acting through its Canadian branch), General Electric Capital Corporation,
Wells Fargo Retail Finance, LLC and JPMorgan Chase Bank,
N.A.
The
parties to the DIP Credit Agreement and a summary of its material terms,
including amendments that the parties agreed to prior to the entry of the Order,
are set forth in the Company’s Current Reports on Form 8-K filed with the
Securities and Exchange Commission on November 12, 2008 and December 31, 2008,
and such information is incorporated by reference into this Item
1.01. The Third Amendment to the DIP Credit Agreement includes
amendments that relate to both the repayment of the Company’s obligations under
the DIP Credit Agreement and the funding of expenses of the Company’s
liquidation sales and the Company’s wind-down expenses following the Company’s
decision to take the necessary steps to liquidate the assets of the Company and
its subsidiaries as part of the Chapter 11 proceedings.
A copy of
the Third Amendment to the DIP Credit Agreement is attached as Exhibit 10.1 to
this report and is incorporated by reference into this Item 1.01.
Item 2.03
|
Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance
Sheet Arrangement of a Registrant.
|
The
information provided in Item 1.01 above is incorporated by reference into
this Item 2.03.
Item 9.01 Financial
Statements and Exhibits.
(d) Exhibits.
|
Exhibit
No. |
Description |
|
|
|
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10.1
|
Third
Amendment to Senior Secured, Super-Priority, Debtor-in-Possession Credit
Agreement dated as of January 17, 2009 by and among Circuit City Stores,
Inc. and certain of its subsidiaries, the banks named in the Credit
Agreement as Lenders, Bank of America, N.A., Bank of America (acting
through its Canadian branch), General Electric Capital Corporation, Wells
Fargo Retail Finance, LLC and JPMorgan Chase Bank,
N.A.
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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CIRCUIT
CITY STORES, INC.
|
|
(Registrant)
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|
|
|
|
|
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Date: February
23, 2009
|
By:
/s/Reginald D.
Hedgebeth
|
|
Reginald
D. Hedgebeth
|
|
Senior
Vice President,
|
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General
Counsel and Secretary
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EXHIBIT
INDEX
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Exhibit
No. |
Description |
|
|
|
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10.1
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Third
Amendment to Senior Secured, Super-Priority, Debtor-in-Possession Credit
Agreement dated as of January 17, 2009 by and among Circuit City Stores,
Inc. and certain of its subsidiaries, the banks named in the Credit
Agreement as Lenders, Bank of America, N.A., Bank of America (acting
through its Canadian branch), General Electric Capital Corporation, Wells
Fargo Retail Finance, LLC and JPMorgan Chase Bank,
N.A.
|