http://consumerist.com/5074161/breaking ... 155-stores
According to anonymous insider tips, Circuit City is closing 155 stores and withdrawing from 12 markets. This will be officially announced tomorrow at 8am, says our source. A scan we received of a letter distributed to CC employees helps corroborate the story. The tipsters say that store employees were told this morning. No information was provided at that time about severance pay. Employees in certain departments, like car installation, and Firedog, will likely be out of a job within 48 hours. Warranties will still be honored. A Consumerist commenter on this post says this story is true, and a few posts in Google Finance forums also attest to the store closing. One post there says the store closings will be effective 12/31/08. The news wouldn't be entirely unexpected as...
WSJ reported on Oct 20th that the retailer was considering closing 150 stores. On Friday, Oct 31, CC was warned it get delisted from the New York Stock Exchange because its stock price averaged below $1 for 30 days.
Suffice to say, even if the store closings don't get announced tomorrow, Circuit City is officially fried.