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Circuit City may close 150 stores

Financial Law     updated  2008/10/20 08:41

Circuit City could close 150 stores and cut thousands of jobs in lieu of filing for bankruptcy, The Wall Street Journal reported Monday.

The newspaper’s report, which cites “people familiar with the company,” says the struggling electronics retailer has hired bankruptcy lawyers but doesn’t want to file for Chapter 11 before the holidays.

Circuit City has one Wichita Location at 6920 W. Kellogg.

Such a filing could hurt the company even further, the Journal says, because many shoppers would be worried that Circuit City wouldn’t be able to honor warranties on big-ticket items such as high-definition TVs and computers.

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