
Bankrupt Circuit City Stores Inc., the nation’s second-biggest consumer electronics retailer, said Friday it failed to find a buyer and will liquidate its 567 U.S. stores. The closures could send another 30,000 people into the ranks of the unemployed.
Other recent casualties include KB Toys, which filed for bankruptcy in December and is liquidating stores. Department store chains Goody’s Family Clothing and Gottschalks Inc. both filed for bankruptcy this week—Goody’s plans to liquidate, while Gottschalks hopes to reorganize.
Industry experts expect more bad news in the coming months as spending likely will deteriorate further. Read More
Will America go bankrupt like Russia did before this crisis is done and overwith? I think that all these billions of dollars is only delaying the end results! Do you really think that the government would tell the people if bankrupt was just around the corner? What do you think?

