Rather solid rumors indicate that Circuit City will announce today the closing of 155 stores. Apparently most stores affected are in the Midwest. Update: Circuit City officially announces the closing of 155 Stores.
The closing of these stores is not supposed to mean that Circuit City is in serious trouble. The electronics retailer is just getting rid of underperforming stores. Why this step is happening just weeks before Black Friday is a bit weird. I would close these stores after the Holiday shopping season and take the money they make during the busiest sales season in any case.
More details on the Circuit City store closing rumor can be found on Gizmodo.
Earlier this year BlockBuster actually wanted to buy Circuit City.
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