Circuit City Files For Bankruptcy After A Year Of Falling Sales And Corporate Cutbacks

Circuit City Files For Bankruptcy After A Year Of Falling Sales And Corporate Cutbacks

By: DailyMarkets.com

Posted on November 10, 2008 at 19:10 PM EST

Circuit City Stores Inc. (CC) has filed for Chapter 11 bankruptcy, a week after the struggling electronics retailer announced it would close 155 of its 566 U.S. stores by Dec. 31 and slash its workforce by 17%. “The decision to restructure the business through a Chapter 11 filing should provide us with the ...

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