BUSINESS

Circuit City Closing 20% Of U.S. Stores To Save Cash

12/04/2008 05:12 am ET | Updated May 25, 2011

Here come the closeout sales: Circuit City (CC) says it's shuttering 155 of its 721 U.S. stores, or about 20%, to save cash. The declining electronics retailer will also consider "all available options and alternatives to restructure its business."

(They won't get the $6 to $8 cash per share that Blockbuster foolishly waved earlier this year, that's for sure -- Circuit City shares are trading at 30 cents per share in pre-market trading.)

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