Ending a common topic in this space, Circuit City filed for Chapter 11 bankruptcy protection Sunday. The company notes in a subhead of its press release that it is "fully operational and open for business." Excluding the rash of store closings, I suppose.
electronics: November 2008 Archives
As anticipated last month (and noted here), Circuit City confirmed store closings and is scaling back expansion plans while renegotiating leases. Some industry observers are already saying goodbye to the retailer, saying that it has too many negative positions to rebound.
A PDF of the store closings is available, listing all 155 affected locations.
Audio-visual specialist Tweeter is closing all its stores. The company was reportedly sold to a liquidation specialist last week and closed its distribution centers. The company has been in decline for several years but still has more than 100 stores.
