Sections

Circuit City to close all 567 stores

US electronics and videogame retailer enters bankruptcy proceedings as 30,000 staff members face unemployment

US electronics and videogame retailer, Circuit City, has announced plans to close all 567 of its stores, following the start of bankruptcy proceedings.

Around 30,000 workers are set for unemployment after the business failed to find a buyer and was granted approval from US Bankruptcy Judge Kevin Huennekens to begin shutting down its stores, according to the Associated Press.

Circuit City had filed for Chapter 11 protection in November of last year before taking the decision to close, however the Canadian branch is still negotiating for a possible takeover.

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