Circuit City to break store leases
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times staff and wire reports
Circuit City Stores Inc. said it planned to break the leases for almost all the 155 stores it was closing this month.
The Richmond, Va., company was scheduled to auction the leases today as part of its Chapter 11 bankruptcy protection proceedings. But too few bids came in to hold the auction, a spokesman said.
The company had hoped to sell the leases to reduce its costs, help it get financing and aid its restructuring, it said in court documents.
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