Circuit City Store Closings and Circuit City Store Closings List

Circuit City has announced they will close 155 stores, and that means laying off 7,200 employees! This is all because the recent turmoil lived in the financial World. The company is looking to restructure the business to continue with profits during these hard times.

“While management is working diligently to secure the support of its vendors and believes it has maintained good relationships with these important partners, the current mix of terms and credit availability is becoming unmanageable for the company,” the company said in a statement this morning.

The Circuit City store closings will begin by Wednesday. It is good to know that the company has made this decision after having two years of losses, as they fiercely compete with Best Buy and Wal-Mart and even online retailers.

Ending the fiscal second quarter on August 31, Circuit City possessed $92.5 million in cash money or cash equivalents, in comparison to $424.4 million during the same period a year earlier.

Here is the Circuit Store Closings List

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