Circuit City To Liquidate Oklahoma Stores

Friday, January 16th 2009, 2:17 pm
By: News On 6

Associated Press

UNDATED (AP) -- Bankrupt Circuit City Stores Inc. has been unable to work out a sale of the company and says it will go out of business, closing its 567 U.S. stores and cutting 30,000 jobs.

The company's Web site indicates it has two stores in Oklahoma City and two in Tulsa. The number of employees at those stores wasn't immediately available.

Acting Chief Executive James Marcum said in a statement that the company is extremely disappointed but had no other path.

Circuit City had been looking for a buyer or a deal to refinance its debt.

Employees were being notified Friday that they will lose their jobs and if a judge gives final approval to the liquidation, stores would begin the closing process as early as Saturday.