First rule of Horrorthon is: watch horror movies. Second rule of Horrorthon is: write about it. Warn us. Tempt us. The one who watches the most movies in 31 days wins. There is no prize.
Friday, January 16, 2009
Circuit City to shut down yet somehow Radio Shack still exists
NEW YORK (CNNMoney.com) -- [excerpt] Bankrupt electronics retailer Circuit City Inc. said Friday it has asked for court approval to close its remaining 567 U.S. stores and sell all its merchandise.
The company said it has 34,000 employees.
"We are extremely disappointed by this outcome," James Marcum, acting CEO for Circuit City, said in a statement. "We were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company."
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