Tuesday, November 11, 2008

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Monday, United States electronics retailer City Tour announced its intention to seek Chapter 11 protection in bankruptcy. Second largest in his field, behind Best buy, the company had previously announced plans to close 155 of its sites, leaving approximately 8,000 employees out of work.

The retailer also said that further cuts would be imminent.
"Circuit City was incredibly successful in the 1980s and 1990s, but never changed afterwards," said David Schick, an analyst at Stifel Nicolaus.

In August, Best Buy announced that its profits had increased to show a quarterly profit of AMERICAN DOLLARS $200 million. At the same time, Circuit City recorded a loss of $ 239 million in September.

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This page is archivedand is no longer publicly editable.

The articles on Wikinews reflect the exact time they were written and published and do not attempt to capture events or knowledge that occur or become known after publication.

You have a correction? Add the model {{editprotected}} to discussion page with your corrections, and it will be brought to the attention of the administrators.

Please note that because of our archiving policywe will not modify or update the content of archived articles, we will only accept requests for grammatical corrections and formatting.

Note that some listed sources or external links may no longer be available online because of their age.