Circuit City, who was valued at one point in 2006 for $25 a share, was offered to be bought by Best Buy for around $12 a share back in January. They refused and right now is facing bankruptcy at 25 cents per share.
Today, they have announced that they will close 155 of their locations, laying off 17% of their workforce. Here is the list of locations that are closing. This is sad news for me since I worked at one in the past and I was falling in love with a location close to me.
The good news is that you can probably get awesome deals if you go there now. Like CompUSA when they were closing. I got a $2,000+ TV there for around $900 on the last day there.