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The dismal environment also has claimed retailers including KB Toys and Mervyns.
Circuit City, which posted losses in seven of its final eight quarters, had its brand value diminished in the 1990s as it lost significant traffic to rivals like Best Buy Co., which built bigger stores in better locations and achieved greater economies of scale. and others who have expanded their electronics offerings also wooed Circuit City customers.
will leave more than 18 million square feet of vacant space in a faltering real estate market.
And more than 34,000 employees, some who worked through the liquidation announced in January, will be jobless.
It laid off about 3,400 store workers in 2007 and replaced them with lower-paid employees, a move analysts warned could hurt morale and drive away customers.
They must wait to be paid until secured creditors such as bank lenders are satisfied.
A small staff will remain at the corporate office during the wind-down process, but Circuit City's bookkeeping may ultimately be reduced to a laptop computer running small business accounting software.
When asked for comment on the company's store being shuttered permanently, Circuit City offered only this comment from James A.
While regular customers and employees may have hoped that the competitors of bankrupt sporting goods chain Sports Authority would bid on its stores and inventory, taking over and keeping the branches open so they could expand into new markets.
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While Dick’s Sporting Goods and Modell’s did bid, ultimately the winner of all remaining stores was a group of three notorious liquidators bidding together: Tiger Capital Group, Hilco Global, and Gordon Brothers.