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Things just went from bad to worse for Circuit City. The electronics retail chain announced today that it will begin liquidating its assets. The news follows a declaration of chapter 11 in November, and a subsequent failed attempt to sell itself off to pay creditors and lenders. Circuit City said recently that it was in talk with two companies about selling off its assets. Those have since fallen through.

“Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction … and so this is the only possible path for our company,” wrote the company’s vice chairman, James Marcum, in a statement issued today.

Following the news, shares of the company fell 68-percent, down to five cents. Best Buy shares, meanwhile, rose 1.5-percent on the announcement. is a gadgets review with pics, graphics, photos, images, video recordings, something like that blog with visitors’ comments. The contents are uploaded by users or webmaster. All of the content on this blog (including figures, graphics, photos, images, videos, etc.) is covered under Canadian, US and international copyright and trademark laws. The info supplied by is for general information purposes only, and are property of their respective owners. These figures, graphics, photos, images, videos, and such. have been collected from different public sources including many internet sites (blogs, etc.), considering to be in public domain. The copyright of all the pictures, graphics, photos, images, videos, and so on. published on this blog are the property of their respective owners. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the internet site or the information, productions, services, or related graphics contained on the internet site for any purpose. If you find any content, pictures, graphics, photographs, images, videos, etc. that you consider shouldn’t be here, mail us a del message.


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