A week after closing 155 stores, the nation’s second largest consumer electronics retailer has filed for chapter 11 bankruptcy in Virginia. The move gives them a cushion that will allow them to devise a restructuring plan and get back on its feet. The company’s still going to stay open through the “holiday” season although there isn’t anything jolly about filing chapter 11.
Did you get a Circuit City Advantage Protection Plan? Don’t worry, the filing will not affect that at all. Hopefully.