Circuit City Stores done with closing down stores

Circuit City Stores done with closing down stores

Circuit City Stores has announced that they are not planning to close down any more stores.

The company is currently operating under Chapter 11 bankruptcy protection.

They are already in the process of closing down 155 of its 722 stores.

Circuit City was responding to media reports which stated that they might close down more stores in the future: “Circuit City has not announced any plans for additional store closures.”

Credit Suisse responded making a correction in their original note: “In our Best Buy note published earlier this morning, we erroneously stated that Circuit City received permission from a federal bankruptcy court to close an incremental 150 stores and break the leases associated with the stores. We have since learned that the bankruptcy court ruling was related to stores that had already been announced would be closing. No new incremental store closings have been announced since the company’s November 3rd press release.”

Checkout: Circuit City Stores