Five hundred eighty-eight. That is the number of employees Circuit City laid off Friday. From account executive to visual merchandiser, the company axed positions in seemingly every department and every level of employment, according to paperwork filed with the state.
Circuit City Stores has filed for Chapter 11 Bankruptcy protection. The company will go before the bankruptcy court today in an expedited hearing. BizSense has also obtained the letter sent to employees this morning.
Updated 10:10 a.m.: LandAmerica, the struggling Glen-Allen-based title insurance company has agreed to sell itself to Fidelity National Financial in a stock deal valued at about $128.4 million.
Updated: 9:52 a.m. Electronics retailer Circuit City laid off as many as 1,000 employees at their corporate headquarters in Henrico this morning, according to an employee inside the company. The Times-Dispatch is reporting that the number is between 600 and 1,000.
Blog schmog: Read about it in my book Writing a book remains a popular pastime and calculated strategy for local business leaders. For some, authoring a book – with or without a ghostwriter – is a way to demonstrate expertise and establish street cred to promote consulting. For others it’s a ticket to the speaking… Read more »
Most businesses should try to keep about a month’s worth of cash in the account. The balance is insured by the Federal Deposit Insurance Corporation up to $250,000. A normal balance might be between $5,000 and $10,000 for a start-up or small business. A small business savings account can earn more interest and is easily… Read more »
Fears that an Obama presidency will place tighter restrictions on gun ownership have boosted sales at local gun stores, according to Richmond area firearm dealers. Almost all of the shops BizSense called said they saw increased sales leading up to Election Day. Workers at DeGoff’s Guns in Mechanicsville and Green Top Sporting Goods in Glen… Read more »
LandAmerica has postponed the release of its third quarter earnings, in what is likely an ominous sign for the struggling Glen Allen-based title insurance company. “The release has been delayed to allow LandAmerica additional time to complete the preparation and review of its financial statements for the third quarter ended September 30, 2008,” the company… Read more »
UtiliQuest, an Atlanta-based utility services company, is closing its Richmond office; 53 employees will lose their jobs, according to notice given to the state’s dislocated worker unit. The company’s Chesapeake office is also slated to close, affecting an additional 60 employees. UtiliQuest operates more than 50 offices nationwide, including three other Virginia offices in Fairfax,… Read more »
Richmond might some day lament the day Diamond Duck left for Atlanta, ushering in an era without baseball. A new stadium would probably cure any budding curse before it becomes debilitating. (Read: Curse of the Bambino) Developer Highwoods Properties and their team have until March 1 to submit a letter of intent and outline their… Read more »