More Signs of Economic Trouble

In yet another sign of these troubling economic times, Circuit City has filed for bankruptcy.

Circuit City Stores Inc., the No. 2 electronics seller after Best Buy, filed for bankruptcy protection Monday, becoming the latest retailer hurt by a worsening economic downturn that’s left more consumers with less money to shop.

The company, filing for Chapter 11 protection, has no plans to shut down, and has said it is merely doing this to allow for uninterupted flow of merchandise during the hoiday season.

http://money.cnn.com/2008/11/10/news/companies/circuit_city/index.htm?postversion=2008111008

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s