Circuit City is an American consumer electronics retail company founded in 1949 and currently headquartered in Richmond, Virginia, USA. The company was known for the Circuit City Stores consumer electronics retail chain, the business name of which has since changed to Circuit City. In November 2008, Circuit City announced that it would go out of business after the last of its stores were closed by March 2009. However, two months later, it announced that about 507 of its stores would be acquired by Systemax Inc., owner of TigerDirect and other similar businesses.
The name of the business was derived from the term circuitry. Circuit City went bankrupt and closed all of its stores in 2009 due to poor management decisions made by its leadership and the decline of sales in the electronics industry brought on by the economic recession. The company started liquidation sales at all of its remaining stores in the same month after failing to find a buyer.
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