Cash-Strapped Circuit City Looks to Close 150 Stores

Cash-strapped Circuit City may shutter more than 10% of its nearly 1,500 stores in North America and eliminate thousands of jobs, reports the Wall Street Journal. The company is considering the plan as a way to avoid a holiday season bankruptcy filing, which could leave customers wary of the company's ability to provide warranties on big-ticket items like flat-screen TVs. The nation’s No. 2 electronics retailer’s stock has fallen to 39 cents a share from a 52-week high of $8.72. (More Circuit City stories.)