Circuit City goes belly up. They claim it is the economy. Seriously?

Here’s a snippit from their website…

“We are extremely disappointed by this outcome. The company had been in continuous negotiations regarding a going concern transaction. Regrettably for the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders to structure a going-concern transaction in the limited timeframe available, and so this is the only possible path for our company,” said James A. Marcum, vice chairman and acting president and chief executive officer for Circuit City Stores, Inc.

Circuit City will provide more details in the near term about the plans for the liquidation of the stores and other assets, the status of the company’s Web site and firedogSM services operations, the status of its Canadian operations and plans for the company’s bankruptcy proceedings.

The company does not anticipate any value will remain from the bankruptcy estate for the holders of the company’s common equity, although this will be determined in the continuing bankruptcy proceedings.

The company filed for Chapter 11 bankruptcy protection in November 2008. The case number for Circuit City’s Chapter 11 filing is 08-35653.”

Wow, I’d just been in there not too long ago looking at laptops with sufficient computer memory. I need a new little laptop to take with me to the beach.

Given that Circuit City is going out of business, there is no way to “pay as you go,” in other words, no credit.

However, if you have the cash and need some kind of electronic gadget whether it be a new t.v. or computer or copier…get while the getting is good because they are offering 50% off of everything.