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No One Wants Circuit City's Leases

An auction on the leases of 154 closing Circuit City stores that was scheduled for today is canceled due to a lack of bidders, says a Reuters report. According to a Circuit City spokesperson, the electronics chain might be able to reject the leases by the end of the month, due to the lack of offers. We...

By Ian Ritter | Updated on December 18, 2008

An auction on the leases of 154 closing Circuit City stores that was scheduled for today is canceled due to a lack of bidders, says a Reuters report.According to a Circuit City spokesperson, the electronics chain might be able to reject the leases by the end of the month, due to the lack of offers. We guess this isn’t surprise to anyone. Who is out there expanding?Earlier this week, we spoke with Ivan Friedman, the CEO RCS Real Estate Advisors, which is handling the Steve & Barry’s leases. The interview will be posted as a Q&A next week on GlobeSt.com, but we doubt we’re giving much away by telling you that his outlook on the industry is far from upbeat.

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