Circuit City files for Chapter 11 Bankruptcy

Above is one of the more recent spots to come out of the once-giant electronics retail store, courtesy of Euro RSCG Worldwide. Too little too late perhaps as Circuit City announced today that they were filing for chapter 11 bankruptcy. This will allow them to hold off creditors while they pray for a Christmas Miracle.

Earlier this month it had announced that they would be closing 155 of their stores and laying off 15% of the workforce only to add an additional 700 positions to the cutting block last Monday.

Ouch.

[source]

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