http://money.cnn.com/2009/01/16/news/companies/circuit_city/?postversion=2009011615
The economy has claimed another victim -- Circuit City is shutting down.
NEW YORK (CNNMoney.com) -- Bankrupt electronics retailer Circuit City Inc. said Friday it has asked for court approval to close its remaining 567 U.S. stores and sell all its merchandise.
The company said it has 34,000 employees.
...
In a filing with the U.S. Bankruptcy Court for the Eastern District of Virginia, Circuit City - the No. 2 electronics retailer after Best Buy (BBY, Fortune 500) - said it had reached an agreement with four companies to start the liquidation process.
The company said the sale would begin Saturday and run until March 31, pending court approval.
The retailer's Web site and call center will cease to operate after Jan. 18.
Liquidation should start almost immediately -- which means some cheap stuff available.
But it also means in the long run, less competition and less places to buy games.
Mike from Morgantown
 I am Mario.I like to jump around, and would lead a fairly serene and aimless existence if it weren't for my friends always getting into trouble. I love to help out, even when it puts me at risk. I seem to make friends with people who just can't stay out of trouble. Wii Friend Code: 1624 6601 1126 1492 NNID: Mike_INTV |
