Circuit City Files for Chapter 11

Schachter, Ken
November 2008
Red Herring;11/10/2008, p8
Trade Publication
The article reports that Circuit City has sought bankruptcy protection. The U.S. electronic retailer suffered from erosion of vendor confidence, decreased liquidity and global economic crisis, says its chief financial officer, Bruce Besanko. The company incurred net losses worth $319.9 million, and its stock price fell by 56 percent as of November 2008.


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