Circuit City had been hoping to reorganize under the auspices of a Chapter 11 bankruptcy, but were unable to find a buyer for all or part of the chain. As a result, the entire chain will close, sending another 30,000 of it's employees into unemployment. All 566 stores will be liquidated.
That's too bad. They were no match for Best Buy or Walmart, which knocked the stuffing out of Circuit City to the point that it's suppliers wouldn't do business with them until their past debts were settled.
And in doing so, the suppliers will get paid off what they're owed, with no opportunity for repeat business, which will affect their own bottom line further down the road. Where does it end?
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