The company expects the store and regional office closures to cost it about $30 million, mainly because of lease terminations and fixed-asset disposals. The stores combined had revenues of $170 million for the 12-month period ended December 31, 2004.

"Based on our continuing analysis of markets across the country, we have identified 19 superstores located in trade areas that we believe can no longer support a Circuit City superstore, leaving the locations with no reasonable expectation of positive cash flow and without relocation opportunities," says W. Alan McCollough, chairman and CEO of Circuit City. "In many of the larger markets in which we are closing stores, we have added incremental stores in more vital trade areas, or relocated stores to more attractive sites."

No authoritative figures on the number of jobs the closures will cost are available yet, but each superstore employs roughly 370 full-time workers and more than 500 part-timers, depending on the season. Some of these employees may be able to take positions at other Circuit City stores, the company says.The closing stores were not open on Wednesday and will be closed today, but will reopen on Friday, Feb. 18 for a close-out sale of display merchandise. After the closures, the chain will have 612 U.S. superstores and five mall-based stores in 158 markets.