Circuit City Files For Bankruptcy

Circuit City has filed for chapter 11 bankruptcy. According to their press release, this will allow them to undergo corporate restructuring, cut costs, get out of leases and figure out a way to still make a go of it. The stores will continue to operate, and they will seek to still allow for returns, exchanges, and gift cards.

Circuit City, Electronics Retailer, Seeks Bankruptcy [Bloomberg] (Thanks to Ken!)
Circuit City Stores, Inc. to Reorganize Under Chapter 11 [Press Release] (Photo: corsec67)