Circuit City Stores, Inc. announced on Monday that it had received approval for its first day motions from the United States Bankruptcy Court for the Eastern District of Virginia in Richmond. The motions filed on the 10th by Circuit City as part of voluntary filing for reorganization relief under Chapter 11 of the United States Bankruptcy Code. Circuit City received court approval for a $1.1 billion debtor-in-possession (”DIP”) revolving credit facility to supplement its working capital and provide additional liquidity while it works to reorganize the business.
This financing is being provided by the lenders of Circuit City’s current asset-based credit facility and enables the company to pay vendors and other business partners in the ordinary course for goods and services received after the filing. Circuit City received authority to continue to make wage and salary payments and continue various benefits for
associates as well as honor customer programs, such as returns, exchanges and gift cards, and other pre-petition customer obligations.
“We are pleased to have obtained court approval for our first day motions, a critical first step in Circuit City’s reorganization process,” said James A. Marcum, vice chairman and acting president and chief executive officer of Circuit City Stores, Inc. “These approvals will help position us for a more successful holiday selling season and allow us to operate our business and serve our valued guests without interruption as we work to emerge from Chapter 11 as quickly as possible.”
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According to MacNN, the BBC is working on a mobile version of its popular iPlayer software that will make the service available on the Apple iPhone and iPod Touch.
Visitors to the BBC iPlayer website through one of the portable devices will see a “small, inactive link appears in the corner of the main window, indicating that a beta version of the player software will soon be available.”
The BBC or Apple have not confirmed the link but with the iPhone SDK event coming soon, there should be more news upcoming.
The BBC is also currently developing an iPlayer for Mac users who currently cannot download any content as it is protected WMV files.
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Vudu has added a new feature dubbed the “Vault” this week, which will allow users to save space on their HDDs by “storing” any purchased movie they own on the company’s servers.
After “flagging” the movie as previously purchased, you can delete it from your HDD and re-download whenever you please at no added charge. You can also delete the file if you choose without flagging, but then re-downloading will cost you extra. Some content providers will not even allow archiving, says the company.
Other updates are “revised sort functionality, updated TV show search functionality, a revised advance settings menu, and a new Most Watched list, ranked by popularity among Vudu users.”
The company also added that an IR receiver kit would be made available for $39 USD allowing the device to be usable with universal remotes. Finally, the company also added that Vudu XL was coming, which is a 1 TB version of the Set-Top Box. The added space comes with a hefty price tag however, $999 USD to be exact.
