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Goodbye, Circuit City.
In a bankruptcy court filing, the electronics retailer disclosed that it has reached a deal with liquidators to sell the remaining merchandise in all 567 of its U.S. stores after failing to find a buyer or a refinancing deal.
The company, which is the second-biggest U.S. electronics retailer after Best Buy, has hired Great American Group, Hudson Capital Partners, SB Capital Group and Tiger Capital Group as liquidators. The company, which filed Chapter 11 in November, had previously shut 155 stores.
CNBC is reporting that the shutdown will result in the loss of more than 35,000 jobs.
To learn more about it, and to get more information such as gift card policies and Circuit City store hours, visit http://www.circuitcity.com/closed.html.
No one seems safe in this Depression. This is another blow that the economy certainly didn't need.
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