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TheMoose · 11-10-2008

http://www.engadget.com/2008/11/10/c...or-bankruptcy/

From Engadget,

Circuit City files for bankruptcy

Even after shutting down 155 retail stores and announcing plans to cut around 17% of its 43,000 employees, Circuit City couldn't avoid the dreaded bankruptcy court. Today, the Virginia-based company (along with 17 affiliates) petitioned for Chapter 11 protection in Richmond as it attempts to survive under the crushing pressure from Best Buy / Walmart. Beyond that, details about the outfit's future are unclear, though Best Buy has reportedly stated that it "might take over stores that distressed rivals close." Please, no.

11-10-2008	#13
TheMoose Super Member Join Date: May 2007 Location: Oklahoma (Go Sooners!!) Posts: 1,191	Re: Circuit City, Tweeters, Economic Crisis http://www.engadget.com/2008/11/10/c...or-bankruptcy/ From Engadget, Circuit City files for bankruptcy Even after shutting down 155 retail stores and announcing plans to cut around 17% of its 43,000 employees, Circuit City couldn't avoid the dreaded bankruptcy court. Today, the Virginia-based company (along with 17 affiliates) petitioned for Chapter 11 protection in Richmond as it attempts to survive under the crushing pressure from Best Buy / Walmart. Beyond that, details about the outfit's future are unclear, though Best Buy has reportedly stated that it "might take over stores that distressed rivals close." Please, no.