Circuit City Goes Bankrupt, Files for Chapter 11 Protection

After closing 155 stores last week » 11/10/08 9:02am 11/10/08 9:02am, Circuit City has finally bitten the dust. The electronics store chain-with 721 stores in the US and 770 in Canada-has filed for Chapter 11 protection in the U.S. Bankruptcy Court in Richmond, Virginia, pressured by the recession and competition from Best Buy and Wal-Mart. However,…