Earlier this week, we posted a story about Circuit City's 150+ store closings throughout the United States. Today, it was announced that the chain officially filed for Chapter 11 bankruptcy protection. But what does that really mean and how does it effect gamers and other consumers?

if the store in your area hasn't announced that it is closing, it likely won't, unless there is another massive wave of closings. If, however, Circuit City's plan is unsuccessful, they'll have to liquidate, which means that ALL Circuit City stores will close and you'll likely get some great deals if you hold out long enough.

If Circuit City does make it, through, there will likely be some significant changes. Lower prices? Maybe. Better service? I hope so. They might expand their offerings to gamers, or they might stop selling games altogether (given the gamin industry boom that's going on, I think the former is more likely).

PacoDG via bingegamer.net »