Circuit City files for bankruptcy
Circuit City, the US electronics retailer, filed for bankruptcy protection on Monday, admitting it was struggling to persuade suppliers to keep its stores stocked for the holiday season.
Richmond-based Circuit City, the nation's second largest electronics chain, filed for Chapter 11 bankruptcy protection this morning, one week after announcing it would close one-fifth of its stores in a nationwide effort to cut costs and conserve cash in an increasingly grim retail climate.