Circuit City to Liquidate US Stores

Everything must go
By Newser Editors and Wire Services
Posted Jan 16, 2009 10:39 AM CST
Brian Morgenstern talks on a telephone with a member of the media as he stands outside the Circuit City store where he works Tuesday Dec. 23, 2008, in New Jersey.   (AP Photo/Mel Evans)
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(Newser) – Circuit City will liquidate all 567 of its US stores after failing to find a buyer or a refinancing deal, the AP reports. The nation's second-biggest electronics retailer employs more than 30,000 people. Calls to the Richmond, Va.-based company and its designated liquidators were not immediately returned. Circuit City filed for Chapter 11 bankruptcy protection in November and received court permission to liquidate if it couldn't be sold.