On Monday, United States electronics retailer Circuit City announced that it would file for Chapter 11 bankruptcy protection. Second largest in its field, behind Best Buy , the company has previously announced that it would close down 155 of its locations leaving an estimated 8000 employees jobless. Circuit City logo The retailer also said more cutbacks will be on the way. "Circuit City was incredibly successful in the 1980s and 1990s, but they never changed after that," says David Schick, an analyst at Stifel Nicolaus.
On Monday, United States electronics retailer announced that it would file for Chapter 11 bankruptcy protection. Second largest in its field, behind , the company has previously announced that it would close down 155 of its locations leaving an estimated 8000 employees jobless. Circuit City logo The retailer also said more cutbacks will be on the way. "Circuit City was incredibly successful in the 1980s and 1990s, but they never changed after that," says David Schick, an analyst at Stifel Nicolaus.
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