The real estate market is fragile enough at this time, and adding this much unused property to the mix is not going to help things out. Shopping centers that are already feeling the impact of a slowdown in consumer spending are going to be hit with less rental income at a time when every penny counts.

But the ripple effect is only beginning at this point.

The country is dealing with a sharp rise in unemployment over the past year, and Circuit City is about to unleash a massive amount of workers into an already fragile workforce. The company employed roughly 40,000 workers that are going to be looking for new work, and this is on top of an additional 7,000 employees that the company was forced to lay off during 2008.

What impact will all these workers losing their jobs have on the economy is tough to say. We already know that they are increasing an already rising unemployment situation, but it goes deeper than that. What percentage of these people are going to find themselves behind on their bills, mortgages, credit cards, etc.? This would create even further pressure on the housing market and the credit markets.

The company's suppliers are also going to take a hit. Companies such as Hewlett Packard (NYSE: HPQ), Samsung and Sony (NYSE: SNE) are just a few that will find it hard to collect monies owed to them. The company owes Hewlett Packard $120 million, Samasung $115 million and Sony $60 million. While these companies are big enough and diverse enough to deal with these losses, all of these companies have been dealing with tough times of their own, and this will definitely not help the situation.

Smaller companies located in shopping centers occupied by Circuit City are going to see less foot traffic as well. The big name brand stores in shopping centers tend to bring in the most traffic, and many consumers wind up visiting neighboring stores that they normally would not have visited while they are there if they were not there visiting Circuit City.

The effects go all the way down to newspapers and magazines losing advertising money.

There is no way to really understand the complete and full impact that Circuit City's closing will have on the economy, but it is going to be felt wide and deeply.

The one company that has to be enjoying this more than anyone out there is Best Buy (NYSE: BBY). Best Buy has been stealing market share from Circuit City for a long time, and it is expected that the company will pick up roughly 30% of Circuit City's revenues.

Do you work for a company that is feeling the impact of the Circuit City liquidation? If so, let us hear what the store closings have meant to your company, and how your company is reacting to the recent developments.