KKTV - Economy - Headlines

Circuit City Ripples Go Beyond Vacancies, Layoffs

By: Associated Press
By: Associated Press

When Circuit City finally goes under this year, experts say the ripples will extend across the economy for years.

The electronics retailer, the second-largest in the nation, filed for bankruptcy and plans to close its last 567 stores this year.

That will create 18.71 million square feet of vacant retail space. More than 40,000 workers will have lost their jobs.

Shopping centers will lose rental income. Suppliers will lose display space.

And newspapers already struggling with falling ad revenues will have one less glossy insert in their Sunday editions.


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