Here’s news that should come to no surprise: Circuit City announced it will be liquidating the remainder of its US stores after failing to find a buyer or refinancing. You can read the news story here.
The warning I gave in October to spend your gift cards is even more urgent now. If you still have gift cards after they close their stores you are out of luck. As many of these liquidators have a habit to raising prices to discount them, you may want to go spend any remaining gift cards ASAP before the liquidators start running the show.