Circuit City Disappears From Retail Scene
RICHMOND, VA — What was once the nation’s second-largest retailer of consumer electronics is no more.
Circuit City closed the doors for good Sunday after several weeks of going-out-of business sales in hundreds of stores.
More than 34,000 employees are out of work and more than 18 million square feet of retail space is vacant. Shareholders will likely get nothing and creditors may receive far less than what they are owed.
Circuit City filed for Chapter 11 bankruptcy protection in November with hopes of emerging as a stronger company able to compete in the ever-expanding marketplace. But it couldn’t work out a sale or new financing
At a store in New York City, even the check-out stands were for sale.
In San Antonio, a sign summed it all up: “All Sales Are Final.”