Circuit City is closing their Charlottesville location, Louis Llovio writes in the Richmond Times-Dispatch. They’re shutting down 154 other stores across the country, laying off a fifth of their employees, and probably facing bankruptcy. This move was inevitable to anybody watching the Richmond business’s death spiral over the past couple of years. The NYSE just warned them that they’ll be delisted if they don’t get their share prices up—they’re at $0.40 at the moment, almost a doubling in value since today’s announcement.
With so many locations closing, I guess oddly-shaped stores will litter the stripmall landscape across the nation, a la Golden Skillets. Who this is really bad news is Albemarle Square, which continues to be viable only because acac remains. It would just take the loss of one or two spots there—Plan 9 or the Northside branch of the library—before you’d see tumbleweeds in the parking lot.