WSJ report: Circuit City might close 150 stores

Monday, October 20th, 2008

Matt is currently working as a writer for TechCrunch. Matt Burns is a family man first and attempts to be a writer second. Born and raised in the heart of the automotive world, only cars eclipse his love of gadgets. He previously wrote for Engadget and EngadgetHD before moving into the party house that is TechCrunch. He learned the retail... → Learn More

Dark days are ahead for Circuit City stores as the retailer is contemplating closing at least 150 stores and axing thousands of employees. This would free up millions in extra cash flow that the fledgling, dying, rotting, dead electronic retailer desperately needs after a recent credit downgrade puts Christmas inventory at risk. At one time, Blockbuster was going to take over Circuit but later withdrew it’s bid; good thing too ’cause the stock is down 90% since then. ($.42 at 10/20 @ 11:45)  Who knows what the future holds for Circuit City, but whatever it might be, probably doesn’t include a light at the end of the tunnel.

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