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US games and electronics retailer Circuit City is to liquidate its remaining 567 US stores after a judge agreed the firm could go into bankruptcy.
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.
