I guess closing 155 stores and firing 17% of its workforce was too little, and too late.

In order to stave off hungry creditors, Circuit City filed for bankrupcy protection while it tries to re-organize and get itself out of the jam its in. Perhaps it is hoping that the holiday shopping season will save its bacon... or it needs time to figure out how many more stores it needs to close.

I hope it survives - otherwise there will be less competition at the retail level.