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Circuit City Considers Store Closures

U.S. electronics retail chain, Circuit City is considering closing at least 150 stores and cutting jobs, the Wall Street Journal said citing people familiar with the company.

Earlier this month, the retailer hired Skadden, Arps, Slate, Meagher & Flom LLP and it has also retained FTI Consulting Inc to develop a turnaround plan as well as investment bank Rothschild Inc to guide talks with banks and secure emergency financing, the paper said.

The company's advisers are trying to line up additional financing but so far lenders have shown little interest, the paper said.

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