Circuit City Files for Bankruptcy

Circuit City has been making significant changes as of late to ward off their financial instability, but even after closing 155 retail stores across the country and announcing plans to cut approximately 17% of their 43,000 employees, Circuit City’s financial matters did not lighten up a bit and they were recently forced to file for bankruptcy.

Due to pressure from Best Buy and Wal-Mart, Circuit City’s future is unclear and Best Buy, in their attempts to further drive away all other competitive markets, reportedly stated that they may take over Circuit City stores that were forced to close.

I wonder what happens if they were to do that in areas such as mine where Best Buy and Circuit City are a mere hop, skip and a jump away from each other. Come to think of it, Wal-Mart is bunched together with the two; it’s a competitive market free for all where I live! Only time will tell, I suppose.