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With its stock price currently hovering at about 8/10ths of a penny, Circuit City Stores is nearing the day when it will completely cease to exist.DJM Realty announced that it is has been retained to oversee the sale of the company's real estate assets. In a press release, Andy Graiser and Emilio Amendola, DJM Realty's Co-Presidents, commented that "Circuit City's real estate has begun to create interest among national and regional retailers and supermarkets. There are great opportunities for schools and other non-retail uses."
A school in what was once Circuit City? I like that idea. Perhaps the institution could offer classes on the dangers of managerial arrogance, with a special emphasis on why it's not a good idea to deliberately fire your best employees.
DJM is charged with the unenviable task of finding takers for 578 big-box leases in an economy where very few chains are looking to expand.
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