Circuit City, Chapter 11

Circuit City has filed for Chapter 11 bankruptcy protection. If you have any gift cards with Circuit City, we did stress earlier that you should use them… because they probably are useless at this point. We suspect that when stores open, stores will be instructed to stop accepting gift cards for purchases.

However, until we hear confirmation, you may want to stop by Circuit City and see if you can use them immediately.

It is not clear if Circuit City plans to restructure, or close all remaining stores. Additionally, you should avoid purchasing any extended warranty from Circuit City. While the plans themselves are underwritten by others, submitting a claim on those warranties will be much more difficult.