Circuit City Closing [Jan 16, 2009, 5:14 pm ET] – Share – Viewing Comments
Circuit City to shut
down remaining stores has the news that Circuit City is closing its
remaining US stores and liquidating its assets, something many felt was
inevitable even as the chain attempted to reorganize under bankruptcy
protection. Word is: "About 30,000 employees face layoffs as the rest of its
567 stores are closed. The fates of outstanding warranties, its Firedog repair
service, and Canadian stores are still to be determined, according to the
company."
I don't believe it was the economy but rather poor, no make that very poor management, that brought down CC.
Poor management probably helped, but retail is getting destroyed right now. Circuit City isn't the only big-box retailer that has closed in the last few months, and it's not going to be the last.
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