Now that Circuit City shares are 25 Cents, let the Sale Begin

Circuit City (NASDAQ:CC) is closing 155 stores, their big liquidation sales begin today, but with the company fighting to stay alive, why would you buy their electronics if the warranty is no good?

It's ugly for Circuit City, period. The liquidation firms, Hilco Merchant Resources and Gordon Brothers Retail Partners, would pay it an amount equal to 72 percent of the cost value of merchandise included in the liquidation sales, Circuit City said in a filing with the U.S. Securities and Exchange Commission on Wednesday.

Imagine being an employee of Circuit City, here's how they feel:

The liquidation firms will get an agent's fee equal to 3.5 percent of cost value of the merchandise, Circuit City said.

Earlier this week, Circuit City said it would cut 17 percent of its U.S. workforce, as it shutters 155 stores in the face of a deteriorating cash position and tighter credit terms from vendors.

Now shares of CC trade at 25 Cents, got a Quarter?