Circuit City to Shut Down

Liquidation

Updated Apr. 25, 2017 4:23PM EDT / Published Jan. 16, 2009 9:27AM EST

At Circuit City, the country's second biggest electronics retailer, it's no longer just an advertising pitch. Everything actually must go, because the chain, which filed for bankruptcy in November, announced Friday it would go out of business and liquidate its inventory. It was unable to reach a deal with creditors and potential buyers while under Chapter 11 protection. The company's problems extend back further than the current economic crisis. For the past decade Circuit City has been hurt by poorly located stores, and failed management. Circuit City joins other retailer chains forced to shut their doors, including KB Toys, Linens 'N Things and Shaper Image.

Read it at The New York Times

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Circuit City to Shut Down