Electronics retail chain Circuit City has finally pulled the plug on its remaining 567 stores after not being able refinance or find a buyer for its failing business, resulting in the loss of 30,000 jobs. ┬á As the second-largest consumer electronics retailer, Circuit City was hit by the general slowdown in US consumer spending, and had seen sales decline as it lost ground to larger rival Best Buy. After filing for Chapter 11 bankruptcy protection back in November, the company had already closed 155 stores by December.┬á Acting CEO for Circuit City, James Marcum, said the decision was "regrettable." ┬á "ÔǪfor the more than 30,000 employees of Circuit City and our loyal customers, we were unable to reach an agreement with our creditors and lenders, so this is the only possible path for our company,ÔÇØ said Marcum in a recent statement. ÔÇ£We are extremely disappointed by this outcome."┬á Chris Farnsworth, writer for the LA Trends Examiner, says the liquidation of Circuit City is no shock. ÔÇ£ÔǪitÔÇÖs not very surprising,ÔÇØ he reports. ÔÇ£IÔÇÖve spent my share of hours inside numerous Circuit City locations. With one exception, IÔÇÖve never had a good shopping experience there. To me, the surprise was only that the chain wasnÔÇÖt bankrupt sooner.ÔÇØ ┬á Circuit City is just another in a string of big box shops that have filed for bankruptcy recently. Just before the new year, Linens ÔÇÿN Things in San Luis Obispo, neighbor to one closing Circuit City location, also went out of business. ┬á "It's kind of a bummer to see these big empty stores, but someone will move in," said Anthony Masterson, an Arroyo Grande resident.┬á Liquidators will now begin to sell off Circuit CityÔÇÖs assets, but there is no word yet on when the company plans to begin its liquidation sales.