Investor Mark J. Wattles of Wattles Capital Management has filed plans with the SEC to nominate a slate of five directors to the board of struggling electronics retailer Circuit City (NYSE: CC).
The nominees include Elliott Wahle, Don R. Kornstein, James A. Marcum, Anthony Bergamo, and Alexander M. Bond. Examining the materials submitted by Wattles, these men appear to posses strong retail and operational backgrounds.
In a 13-D filed on January 9, Wattles disclosed a 6.5% stake in the company. Wattles is the founder of Hollywood Entertainment, which pulled off quite a coup when it sold itself to Movie Gallery for $1.2 billion in 2005. The combined company is now in bankruptcy.
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