Circuit City announced today that they would be liquidating the remaining 567 U.S. stores. This came about after the nation’s second-largest electronics retailer was not able to find a suitable buyer to refinance their remaining debt. The failing company will surely be missed. As for their 30,000+ employees it looks like they will be out of a job in the months to come.

MSNBC.com reports, “The company said in court papers it has appointed Great American Group LLC, Hudson Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group LLC as liquidators.” Which in turn means all sales on merchandising will end shortly and all products will return to their original prices. So don’t expect to find a great deal on a new T.V. or computer once liquidation begins.

Last month the Virginia based company filed for Chapter 11 protection caused from the outstanding debt to vendors and a slowing economy. They began shutting down and liquidating 150 of their 700 stores, but it just wasn’t enough to stay in business. We will have more information on Circuit City’s closing as it becomes available.

[via MSNBC]

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