Our Bankruptcy Attorney Blog

The news that Circuit City is declaring bankruptcy is quite a shocker. I knew that retail sales were going to suffer mightily in October, just wasn’t expecting this to happen quite so fast. The retail chains that can make it through the next year or so will come out on the other side that much stronger for it, but it’s going to be painful in the process.

I also saw where DHL is shutting down a big plant in Ohio and it’s going to cripple the small town that almost solely depends on the employment from DHL. I also think about Michigan and the auto manufacturers, as they get closer and closer to making massive layoffs, Michigan’s unemployment rate may rise up above 10% which is getting into dangerous territory (if it’s not there already). Hopefully the American consumer can get a little bit of energy back and start buying within their limits – at least low gas prices are saving people money at the pump.

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