Troubled electronics retailer Circuit City is going down for the count: The company announced it's reached an agreement with liquidators to sell the merchandise in its 567 U. stores after failing to find a buyer or a refinancing deal. The company, which was the second largest retailer of electronics in the country, filed for Chapter 11 bankruptcy protection in November. There's a location right near my house, and when I need some blank DVDs or something, that's where I go -- it's never crowded like Best Buy or other gigant-o-marts.

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Law360, New York (December 4, 2012, PM EST) -- The trustee liquidating Circuit City Stores Inc. Huennekens to sign off on the settlement, which also includes Toshiba American Consumer Products LLC.

asked a Virginia bankruptcy judge Tuesday to approve a settlement with Toshiba America Information Systems Inc. The terms of the deal are confidential, but Toshiba is agreeing to make...

and an affiliate to settle some $91.9 million in total claims and avoid the risk of litigation. Siegel, who's running the Circuit City Stores Inc.

10, 2008 file photo, a brightly lit sign is seen at the entryway of Circuit City in S. Bankrupt Circuit City Stores Inc., the nation's second-biggest consumer electronics retailer, on Jan. (AP Photo/Pat Wellenbach, file) Bankrupt Circuit City Stores Inc., unable to work out a sale of the company, said Friday it will go out of business - closing its 567 U. Experts believe there will be more to come."This is the only possible path for our company," Circuit City's acting Chief Executive James A. "We are extremely disappointed by this outcome."The company had been seeking a buyer or a deal to refinance its debt, but the hobbled credit market and consumer worries proved insurmountable.

16, 2009 said it failed to find a buyer and will liquidate its 567 U. Negotiations for an acquisition went past midnight on Thursday, a Circuit City lawyer said in court.

The nation's second-biggest consumer electronics retailer is the latest casualty of an unprecedented pullback in consumer spending that has driven other brands such as KB Toys, Mervyns LLC and Linens 'N Things into bankruptcy.

Two buyers - Mexican billionaire Ricardo Salinas Pliego, who controls a chain of electronics stores in Latin America, and the Golden Gate Capital private equity firm - had been looking to buy the company in a shrunken form, with either 350 stores or as few as 180 stores.

But the company couldn't secure the necessary financing or support from vendors.