This was still a bombshell. I had no idea Circuit City was related to Ward's. The article on Yahoo didn't talk about closing all 567 stores, whereas this one indicates that to happen.
This proves "a manos llenas" (lit., in full hands = completely) that bad leadership can kill an entire chain--as does thinking 'unloading' experienced and senior employees for the 'cheaper' non-experienced and younger ones. Once people sees a place get rid of those who helped the business be profitable, no one in one's right mind will stop thinking about how easily they can be tossed out on their ear after that. It also proves (just as Home Depot has abundantly) that "managing ONLY on paper" is completely foolhardy: one has to maintain the intangibles still, i.e., the employee loyalty by retaining experienced workers and paying them competitively with benefits and all + understanding one loses up to 100K per employee one tosses for such stupidity in thinking "oh, we'll save 20K by tossing this person making 40K for someone new for 20K." Idiots of that caliber get what they deserve, just like Home Depot got what it deserved.