Circuit City files for bankruptcy: And so the wheel turns

November 10, 2008 · Filed Under Recent News 

Yes, the economy shows little signs of improving, though in this case it had some help with some pretty bone-headed decisions in the process: Circuit City filed for Chapter 11 bankruptcy today. Not a shock really; poor management and shoddy store/worker conditions have doomed this company for a few years now. 155 stores have already closed, and now the company is on the brink of going under completely.

They claim to have secured $1.1 billion in capital to continue operations, but you know the really chilling statistic here: Wal-Mart is struggling to make money and is projecting a down year, so you know what that means for CC, right? Exactly.

More FAQ details here about the logistics for customers: Link

And here is more in-depth analysis of the situation: Link

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One Response to “Circuit City files for bankruptcy: And so the wheel turns”

  1. Matthew on November 10th, 2008 9:10 pm

    To those folks that lost their jobs at Circuit City…You will find new jobs!

    http://www.linkedin.com (professional networking)
    http://www.indeed.com (aggregated listings)
    http://www.realmatch.com (matches jobs based on your skills)

    Good luck to the circuit city folks!

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