Circuit City’s Swan Song: A Massive Liquidation Sale

Circuit City announced on Friday that it will close all of its remaining 567 US stores. As a direct result of the retail chain's closure 34,000 people have been rendered jobless.The company had been in talks with a few potential buyers for quite sometime. In fact, the parleys reportedly went beyond midnight Thursday. However, as the discussions bore no fruits Circuit City was left with no other choice but to liquidate itself. Circuit City is currently offering discounts of up to 30% - which might be revised later - as part of its liquidation sale. Cnet’s Brooke Crothers’ described the situation inside the Circuit City store he visited as chaotic.

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