From the Atlanta Journal and Constitution:

Circuit City announced plans Monday to close 155 stores, including all 16 of the electronics retailer’s metro Atlanta locations.

The company will also close stores in Macon, Warner Robins and Athens. The store locator on the Circuit City Web site now lists only three stores within 100 miles of Atlanta — Rome, Columbus and Chattanooga, Tenn.

The company said in a news release that the 155 stores that will be closed “are under performing or are no longer a strategic fit for the company.”

According to a statement posted on the Web site, stores pegged for closing will not open on Tuesday, and store closing sales will begin on Wednesday.

“The company expects the sales to be completed no later than calendar year end,” the statement said.

The press release blamed the decision to downsize the chain on several factors, including “waning consumer confidence and a significantly weakened retail environment” that the company said has negatively impacted sales.

Waning consumer confidence, certainly, but probably more appropriately, waning consumer ability. That is, the great majority of consumers no longer have the available credit to purchase high-ticket items such as the wide-screen televisions that the retailer is known for selling. And with the downturn in the economy looking like its going to be more protracted than originally feared, consumers are tightening their belts and holding off on discretionary purchases - to the detriment of Circuit City.

broken television television, originally uploaded by a boy named Harvey.