Earlier this month, Richmond, Va.-based Circuit City, the 567-store electronics retailing giant that filed for bankruptcy protection in November, announced that it was going to liquidate. It's closing all its stores and laying off its 34,000 workers.
Officials of the nation's No. 2 electronics retailer, which had been restructuring under Chapter 11 bankruptcy protection, and its creditors agreed to the closing after negotiations with two potential buyers seeking to continue the company as a going concern broke down. The company said that no value will remain for shareholders.
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