Those rumors have now been confirmed. Circuit City has decided to shut down 155 stores in the coming months, with the chain pulling out of twelve separate markets. In what could be considered a big blow to their employees and a sign of how badly the company is doing, they have stated that employees will not be able to transfer to other stores.
The branches will close before the end of this year. If you happen to live near one of the stores that is closing, you might end up benefiting from this as they try to move inventory out of the door.