We all know that the economy in the U.S. and abroad is bad right now. People are losing their homes, major automakers are facing the very real prospect of going out of business, and the technology industry is seeing some of the hardest times in many years.

One of the hardest hit companies in the electronics industry is Circuit City. The consumer electronics reseller announced in early November that it was closing down a significant number of its locations, specifically 155 stores would lock their doors on December 31.

The economy is weak as we all know and when the economy is weak sales of certain items tend to drop. The car industry is hurting as is the home industry. Consumer electronics are still predicted to grow, but despite that, Circuit City has found itself in a world of trouble.

Circuit City stock prices were so low that the only way to try to save the company was to announce the closing of 154 stores in the U.S. to help get the company back into the black. The closing of stores is bad news for employees and shareholders, but it is good news for consumers looking for good deals.