Circuit City will close its remaining 567 stores laying off some 30,000 employees following the failure of talks to sell the core business of financially ailing consumer electronics retailer.


Last one out, turn off the lights…

Circuit City closed 155 stores last November after reporting that it was (US)$2 billion debt and needed to restructure. Less than two weeks ago, the company announced it was in talks with two parties who were ‘very interested’ in acquiring Circuit City. But, in the end, neither party would commit.

Circuit City stores in the U.S. will do their best to liquidate their existing inventories before closing their doors for good.

The company has made no statement on what will happen to its outstanding warranties or what fate will befall its Canadian ‘The Source by Circuit City’ store chain.

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