The chain needed approval from US Bankruptcy Judge Kevin Huennekens to begin to put itself out of business, according to LA Times. It sought a buyout deal, but none was reached.
Circuit City was the US’s second-biggest consumer electronics retailer. It will lay off more than 30,000 workers and begin close-out sales on Saturday.
Richmond, Va.-based Circuit City filed for Chapter 11 protection in November.
Its Canadian unit is still negotiating for a possible takeover.
Advertisement
