Circuit City disappears from retail scene

What was once the nation's second-largest retailer of consumer electronics is no more.

Circuit City closed the doors for good Sunday after several weeks of going-out-of business sales in hundreds of stores.

More than 34,000 employees are out of work and more than 18 million square feet of retail space is vacant. Shareholders will likely get nothing and creditors may receive far less than what they are owed.

Circuit City filed for Chapter 11 bankruptcy protection in November with hopes of emerging as a stronger company able to compete in the ever-expanding marketplace. But it couldn't work out a sale or new financing

At a store in New York City, even the check-out stands were for sale.

In San Antonio, a sign summed it all up: "All Sales Are Final."

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Sound:

CUT 186 (03/08/09)>> 00:06 "can spend them"

Craig Pinto

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Shopper Craig Pinto says he didn't expect to see the store shelves practically bare at a Rockville, Maryland Circuit City.

CUT 187 (03/08/09)>> 00:12 "buy our electronics"

Ken Frumkin

Ken Frumkin went with his son to a Rockville, Maryland Circuit City to see if there was anything left on the shelves.

CUT 188 (03/08/09)>> 00:05 "out of business"

Charlie Huisentruit (HY'-zen-troo-iht)

Shopper Charlie Huisentruit was hoping to get a good deal on a TV.