Circuit City, R.I.P
By katrhina23
@katrhina23 (1282)
United States
January 16, 2009 5:19pm CST
The troubled 60-year-old electronics chain tried its best to survive bankruptcy, but to no avail; now, it will liquidate its merchandise and close all 567 remaining stores.
Bloomberg reports that Circuit City Stores Inc. has hired a quartet of liquidators to sell off its existing merchandise, pending a green light from the courts. If everything goes according to plan, the fire sale will start Saturday and continue through the end of March, according to CNNMoney.com.
And unfortunately for Circuit City's 30,000+ employees, unemployment awaits.
http://tech.yahoo.com/blogs/patterson/33343
1 response
@ljames8585 (129)
• Canada
17 Jan 09
this isn't surprising it is how the economy is going, it will be happening more and more often in the future. It will be the survival of the fittest.
@katrhina23 (1282)
• United States
17 Jan 09
yeah. we will be expecting for more big companies to close out..
