I guess they could not sell the company before they were forced to pull the plug.
The company said it decided to file for bankruptcy protection because it was facing pressure from vendors who threatened to withhold products during the holiday period. The company also said it cut 700 more jobs at its headquarters, after announcing a week ago that it would close 20 percent of its stores and lay off thousands of workers.
They now have the chance to reorganize and perhaps come out of bankruptcy that much stronger. My money is more on Best Buy dominating the electronics sales industry.
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