Circuit City Liquidation Causing Consumer Craze

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While it's only been something like four days since Circuit City began liquidating, shelves at the Union Square location are being shopped clean by swarms of hungry consumers panicking at the thought of discount digital cameras.

We stopped by to gauge the mania, and the after-work rush had reached a fever pitch in video games and flatscreen TVs. While accessories like camera bags, cords and the occasional memory stick are up to 30% off, the main electronics items are still hovering at an optimistic 10% off.

With Circuit City gone as soon as they can get rid of stacks of Guitar Hero, Virgin collapsing any day now, the corner Shoemania barely hanging on and now the rumors about Filene's Basement trouble, is the south end of Union Square about to become a retail ghost town save for Whole Foods and Forever 21?

· Discontinued: Filene's Basement [Racked]
· Virgin Union Square Knocking at Death's Door [Racked]
· Say Sayonara to Virgin Megastore Union Square [Racked]