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Circuit City sells Oklahoma site for $8.2 million to Shores Oilfield
By Jennifer Lanning Drey
Portland, Ore., May 19 - Circuit City Stores, Inc. obtained court approval to sell its property in Ardmore, Okla., to Shores Oilfield Equipment Co., Inc. for $8.2 million, according to a Friday filing with the U.S. Bankruptcy Court for the Eastern District of Virginia.
The sale price represents a $2.2 million increase from Shores Oilfield's original stalking horse bid of $6.0 million.
The 38-acre property includes a 750,000-square-foot warehouse.
The Richmond, Va., electronics retailer filed for bankruptcy on Nov. 10. Its Chapter 11 case number is 08-35653.
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