After Circuit City was forced to close down about 155 stores in the recent past, it looks like it’s filing for bankruptcy and no one it’s going to stop it. Circuit City will reorganize itself under the Chapter 11 bankruptcy which means that the company is still going pay salaries and provide benefits to its employees. And they will still return, exchange stuff and gift cards. Here’s what vice chairman James A. Marcum has declared:

We recently have taken intensive measures to overcome our deteriorating liquidity position. The decision to restructure the business through a Chapter 11 filing should provide us with the opportunity to strengthen our balance sheet, create a more efficient expense structure and ultimately position the company to compete more effectively. In the meantime, our stores remain fully operational, and our associates are focused on consistent and successful execution this holiday season and beyond.

So is anyone going to revitalize Circuit City? By raise of hands people! Anyone?