Circuit City to close 567 remaining US stores

Circuit City became the largest retailer to fall victim to the expanding financial crisis Friday, announcing it will shut down its remaining 567 U.S. stores at the cost of 34,000 more jobs after failing to sell the business.The closure of the nation's second-biggest consumer electronics retailer spells more trouble for the nations malls, and is the latest casualty of an unprecedented pullback in consumer spending that has claimed KB Toys, Mervyns LLC and Linens 'N Things. (FELBERBAUM, 2009)

This is sad.One of the largest consumer-electronic stores in the nation is down,in my mind I had a list of stores that were going down(kmart,target)and circuit city was not one of them.This is especially bad for the people that were employed by the company,which was about 3,500.


FELBERBAUM, MICHAEL (2009/1/16). Circuit City to close 567 remaining US stores. Retrieved January 17, 2009, from wired.com Web site: http://news.wired.com/dynamic/stories/C/CIRCUIT_CITY_BANKRUPTCY?SITE=WIRE&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2008-11-10-07-50-06