How did Circuit City became liquidate and has Chapter 7 Bankruptcy on January 16, 2009?

Circuit City was unable to find a buyer to bail them out of their own financial woes, and as such their only remaining option was to liquidate and go out of business. I can't say they didn't try to stay afloat, but when everything else fell through, there comes a time when it becomes "game over".

As for what caused them to go into bankruptcy in the first place, I would say that their high prices and poor customer service, along with the poor economy, finally became more than they could bear.

poor management and poor customer service.

Too much debt, no business,,,, hard to stay in business when your payments are more than you bring in.