Dark days are ahead for Circuit City stores as the retailer is contemplating closing at least 150 stores and axing thousands of employees. This would free up millions in extra cash flow that the fledgling, dying, rotting, dead electronic retailer desperately needs after a recent credit downgrade puts Christmas inventory at risk. At one time, Blockbuster was going to take over Circuit but later withdrew it’s bid; good thing too ’cause the stock is down 90% since then. ($.42 at 10/20 @ 11:45) Who knows what the future holds for Circuit City, but whatever it might be, probably doesn’t include a light at the end of the tunnel.
