Tuesday, November 11, 2008

Why Don't We Bail Out Circuit City?

Circuit City has finally blacked out after years of brownouts.

Circuit City, along with 17 affiliates, filed for bankruptcy protection on Monday in Richmond, Va., where the company is based. Its Canadian operations filed in Ontario courts.

Monday's announcement comes one week after Circuit City (nyse: CC - news - people ) said it was closing 155 of its more than 700 stores in 55 markets by the end of the year and firing about 17.0% of its U.S. work force. It also said it was considering all options to restructure.

http://www.forbes.com/equities/2008/11/11/circuit-city-closer-markets-equity-cx_cg_lal_1110markets38.html

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