They're not even going to bother with reorganization. They are going to liquidate and go out of business. Nationally, that means that 35,000 people working for the company will be out of jobs.
The company began a disastrous course in recent years after firing the most experienced workers in a cost cutting effort that only meant that incompetent floor staff were left to handle customers. Sagging sales and increased competition from Best Buy, Target, and Walmart led to the company calling it quits.
That means that if you're in the market for a good deal on a big screen tv and home theater for the Super Bowl, now is your chance.
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