More bad news from the economic front.
Circuit City Stores Inc is closing 155 stores and considering all options to restructure its business as the consumer electronics retailer struggles with a deteriorating liquidity position and tighter credit conditions from vendors.
Circuit City said it would also cut 17 percent of its domestic workforce as part of the store closings.
I read the entire article, and I feel the economic downturn has just hastened the inevitable. The last time I walked into our local Circuit City, the sales staff was rude, the place was too noisy, and the prices were much higher than their competition just half a mile away. It’s no wonder vendors don’t want to work with them, I don’t want to buy from them.
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