Circuit City closing 155 stores

RICHMOND, Va. — Circuit City Stores Inc. said Monday it is closing about 20 percent of its U.S. stores — cutting thousands of jobs — in an effort to return the nation’s No. 2 consumer electronics retailer to profitability. The Richmond, Va.-based company said it will shutter 155 of its more than 700 stores in 55 markets, including Phoenix and Atlanta, by Dec. 31, laying off about 17 percent of its domestic work force. Circuit City also said it will further reduce new store openings and plans to work with landlords to renegotiate leases, lower rent or terminate agreements. For the full story visit www.latimes.com/business/la-fi-circuit4-2008nov04,0,6851342.story