Circuit City files for bankruptcy protection: Financial News - Yahoo! FinanceThe company also said it cut 700 more jobs at its Richmond, Va., headquarters, after announcing a week ago that it would close 20 percent of its stores and lay off thousands of workers.
In court documents, Chief Financial Officer Bruce H. Besanko cited three factors: erosion of vendor confidence, decreased liquidity and the global economic crisis.
1 comment:
Gee, and only a couple of years after they fired all their experienced workers in favor of cheaper inexperienced ones. I am so surprised.
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