Circuit City Stores Inc. has announced that, due to bankruptcy and the failure to find a buyer, the company will be forced to liquidate all 567 of their stores in the United States. The move comes after the worst holiday shopping season in forty years, and could cost the jobs of some 30,000 people currently employed by the consumer electronics retailer, the nation's second-largest. Circuit City is one of several retailers that have been forced to take drastic action in response to the downturn in consumer spending following September's financial crisis.
See "Circuit City to liquidate remaining US stores", Los Angeles Times, January 15, 2009