RICHMOND, Va. (AP) - A look at the history of consumer electronics retailer CircuitCity Stores Inc.:
1949: Samuel S. Wurtzel opens first Wards Company retail storein Richmond, Va.
1959: Wards operates four television and home appliance storesin Richmond with annual sales volume of about $1 million.
1960: Expands operations via licensed departments in massmerchandising discount stores.
1961: Makes first public offering with Stein Brothers &Boyce Co. of Baltimore. Offers 110,000 shares at $5.375 per share(split adjusted, 2 cents per share).
1966: Sales reach $23 million for the fiscal year.
1968: Moves from the over-the-counter market to the AmericanStock Exchange. Offers 1,700 shares at $19.75 per share (splitadjusted, 55 cents per share).
1969-1982: Company acquires numerous electronics retailers andoperates stores from New York to California.
1983: Sales reach $246 million for the fiscal year.
1984: Company name changes to Circuit City Stores Inc.; Stocklisted on the New York Stock Exchange.
1987: Sales reach the $1 billion mark for the fiscal year endingFeb. 28, 1987.
1989: First personal computers hit Circuit City storeshelves.
1990: Sales reach the $2 billion mark for the fiscal year endingFeb. 28, 1990.
1993: Begins testing CarMax, a retail venture selling usedvehicles.
1996: CarMax announces plans for national expansion of theconcept.
1999: Circuit City launches Web site to offer online shopping;annual sales for Circuit City store businesses exceed $10 billionand annual sales for the CarMax superstores exceed $2 billion.
2000: Circuit City exits the appliance business.
2002: Circuit City completes the separation of CarMax.
2003: The company rejects takeover bid from Mexican financierCarlos Slim Helu.
2004: Circuit City acquires Ontario-based InterTAN Inc., aconsumer electronics retailer of private-label and internationallybranded products.
2005: Company rejects unsolicited $3.25 billion cash buyoutoffer from Boston investment firm Highfields Capital ManagementLP
2006: Circuit City launches Firedog, a PC services andhome-installation business.
2007: Circuit City announces plans to explore strategicalternatives for InterTAN Inc.; lays off about 3,400 retailemployees and replaces them with lower-paid workers; launches newstore prototype "The City."
April 2008: Dallas-based movie-rental chain Blockbuster Inc.makes public a more than $1 billion takeover bid for Circuit Citywith dreams of creating a huge chain that would sell electronicgadgets and rent movies and games.
May 2008: Circuit City's board of directors authorizes theexploration of strategic alternatives to enhance shareholder value;Opens books to Blockbuster.
June 2008: Circuit City reaches agreement with shareholderWattles Capital Management to nominate three directors, includingJames A. Marcum to its board to defuse proxy battle.
July 2008: Blockbuster withdraws takeover bid, citing marketconditions.
August 2008: Marcum named vice chairman.
Sept. 22, 2008: Philip J. Schoonover steps down as CircuitCity's chief executive, chairman and president; Marcum named asinterim president and chief executive.
Sept. 29, 2008: Circuit City withdraws its outlook for the fullyear and posts a wider second-quarter loss as sales fell 10percent; Shares fall more than 20 percent.
Nov. 3, 2008: Circuit City says it will close 155 stores in 55U.S. markets by Dec. 31, laying off about 17 percent of itsdomestic work force. Company says it will further reduce new storeopenings and plans to work with landlords to renegotiate leases,lower rent or terminate agreements while it deals with tighteningcredit from its vendors.
Nov. 7, 2008: Circuit City lays off about 700 employees at itsheadquarters.
Nov. 10, 2008: Circuit City files for Chapter 11 bankruptcyprotection.
Jan. 16, 2009: Circuit City announces plans to liquidate.
March 2, 2009: Circuit City announces sale of 750 The Sourceelectronics stores across Canada operated by Circuit City'sInterTAN subsidiary to telecommunications company Bell Canada.
March 8, 2009: Circuit City's remaining 567 U.S. storesclose.
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