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Company blames 'continued weak macroeconomic environment.' By Steve Watts, 11/04/2008
The company will also be reducing its number of new store openings, cutting out 10 locations that were expected to open. Circuit City will be renegotiating leases for its existing locations to reduce costs of upkeep, and says it is "considering all available options and alternatives to restructuring its business."
The Wall Street Journal's MarketWatch recently predicted this move to avoid bankruptcy, and it's certainly not welcome news for the people that Circuit City employs. For gamers, this means you may soon have one less place to go to pick up your titles. As a silver lining, though, store closing sales amid the busy release season may get you good deals on games that have recently come out.
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