Circuit City to Close 155 Stores, Lay Off Thousands | Epicenter from Wired.com

Posted: 11/03/2008 by Floyd in Labels:
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Circuit City now joins the ranks of business losing money and not able to compete in this weakened economy, one more victim in a long line of victims brought on by failed policy and irresponsible government, America can not afford at this time four more years of the same.

 


Electronic retailer Circuit City plans to shutter 20 percent of its U.S. stores by December 31 and evaluate other cost reduction initiatives, it announced today, citing waning consumer confidence and the struggling financial markets.

The move will close about 155 of its 700 stores, and result in layoffs of about 17 percent of its workforce.  It will also reduce future store openings and renegotiate some leases.

Circuit City to Close 155 Stores, Lay Off Thousands | Epicenter from Wired.com

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