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Circuit City is Toast

Patrick Barnard January 16th, 2009

After failing to find a buyer, it appears Circuit City is toast.

The electronics retailer – which filed for bankruptcy in November — has asked for court approval to close its remaining 567 U.S. stores and sell all its merchandise.

That means 30,000 more people are about to flood the U.S. job market.

I saw this one coming months ago.

On the bright side, this might be a great time to buy a flat panel TV (that is, if you haven’t done so already). I’m sure Circuit City will have some good deals on the ones it has left.

But in this economy, such decisions can be a tough call: You might want to hold onto that money in case you lose your job. Then again, if you do lose your job, at least you’ll have a nice TV to watch!