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Circuit City files for bankruptcy, 567 prepare for liquidation sales

Updated Dec 19th, 2018 6:12PM EST
BGR

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…and over 35,000 folks prepare to start searching for a new job. So sad. This latest bit of bad news comes after Circuit City’s lengthy, and apparently fruitless, search for a buyer. The company has been trying to sell its assets for quite some time now. It seems, however, that faced with a ticking clock and an utter lack of interest from outside parties Circuit City has made an agreement with a liquidation firm to get rid of all of its material assets and close shop. The company filed for bankruptcy this morning in Richmond, Virginia. While there will certainly be a bit of a “all items must go” sale frenzy, this is ultimately very bad news for the economy, electronics industry, and the 10’s of thousands of employees that now find themselves without a job. Sadly, it also begs the following question: Who will be the next to fall?

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Josh Karp Distinguished Fellow

Josh Karp followed his love of technology since a kid through to the present day. As a Special Correspondent at BGR, and part of the first editorial team, Josh covers press conferences, trade shows and other events around the world. An expert in all things mobile, Josh has more than eighteen years of experience covering the wireless industry.

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