'Disappointed' CEO Pulls Plug On Circuit City

Law360, New York (January 16, 2009, 12:00 AM EST) -- Bankrupt Circuit City Stores Inc., the nation's second-largest seller of consumer electronics, has said it is unable to find a buyer and will begin the process of liquidation.

The company said Friday it would provide more details soon about its plans for the liquidation of stores and other assets, as well as the company's bankruptcy proceedings in the U.S. Bankruptcy Court for the Eastern District of Virginia.

Bankruptcy Judge Kevin R. Huennekens signed off on the liquidation plan Friday afternoon.

Circuit City said it does not...
To view the full article, register now.