[herawaq]

Circuit City, the nation's #2 electronics store chain, is about to close up some 155 of its stores and slice up thousands of jobs nationwide.

This comes on the heels that it has reported a record loss in shares, and that it has said that it needs to save money in order to keep its head above water.

It has also lost out on getting about an $80m tax refund, and says that in order to stay alive, it needs to take some measures to avoid filing for Chapter 11.

I've provided a link. For more info, please go here: http://www.msnbc.msn.com/id/27515440/ .