Circuity City Officially Closing!

An ailing economy strikes again, and this time levels one of the most well-known names in electronics retailers. Circuit City officially announced on Friday that they will be shutting down all stores, and in the process liquidating all merchandise in those stores. There's approximately 34, 000 employees for the retail stores across the United States, all of whom will soon be jobless. There's a 60 day notice for all employees losing jobs and anyone dismissed earlier receives pay and benefits for that 2 months. The retail chain cites the bleak economy and challenges to their business as reasons they will need to liquidate all store items in order to pay creditors. Hopes for emerging from Chapter 11 Bankruptcy have been squashed for the company which has existed for 60 years.

As for the liquidation sales, those start at many stores on Saturday, January 17, 2009. If you've been mulling over getting a new piece of electronics such as a Blu-Ray DVD player, LCD HDTV or new laptop, this just may be your opportunity. The Circuit City website reveals no details of any of the clearance deals, so you'll need to stop in and check out your local stores. CircuitCIty.com has more details, in fact that's all it has now, a page of text discussing the store's closing.

See all the details about Circuit City's closing here.