UPDATE: Circuit City Says Everything Must Go

By: Associated Press
By: Associated Press

Everything must go, and for Circuit City that means selling the furniture, fixtures and equipment from its headquarters and distribution and service centers.

A bankruptcy judge has approved an agreement between the Richmond, Va.-based company and Michigan-based Liquid Asset Partners LLC to sell the assets to pay down the company's debt.

Circuit City received approval last week to auction or break leases for 567 U.S. stores, its headquarters and various distribution centers. The company announced in January that it would liquidate its stores and cut more than 34,000 jobs after it failed to find a buyer or secure refinancing.

Fifteen of those stores are in Colorado.

Circuit City filed for Chapter 11 bankruptcy protection in November.

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