Circuit City will close 155 stores around the country and lay off 17% of its 46,000-member workforce before year’s end in its latest attempt to stave off bankruptcy proceedings, although analysts are predicting more closures and a probable Chapter 11 filing before the holidays. Circuit City is, of course, one of the few non-Wal-Mart outlets for music in many parts of the country, although I doubt the execs there are looking into an exclusive deal with an aging rock act as a way to save the company’s hide. [Reuters]
