Circuit City closes store doors

All of Circuit City's stores will close for good by Sunday, powering down what once was the nation's second-largest consumer electronics retailer.

Posted 5:31 p.m. Mar 8, 2009 — Updated 7:42 p.m. Mar 8, 2009

RICHMOND, VA. — All of Circuit City's stores will close for good by Sunday, powering down what once was the nation's second-largest consumer electronics retailer.

In Raleigh, a Circuit City store, at 4601 Creedmoor Road, planned to shut its doors to the public at 4 p.m.

Four liquidators that have been working since January to sell off Circuit City's remaining $1.7 billion worth of inventory at reduced prices. Liquidators say they are running out of inventory a week early because customers have been buying the discounted items.

The Richmond-based company announced in January that it would liquidate its remaining 567 U.S. stores and lay off about 34,000 employees after it failed to find a buyer or secure refinancing under bankruptcy protection.

Almost all of the inventory has sold, and nothing will remain when the stores close. A small staff will remain at the corporate office after Sunday to finish winding down the company.

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