<P> In April 2004, Circuit City announced its purchase of Canadian retailer InterTAN . Circuit City paid approximately US $284 million for InterTAN's 980 stores, which operated in Canada under the trade names RadioShack, Rogers Plus, and Battery Plus . Chairman and CEO Alan McCollough believed these existing small - format stores provided an easy entry into Canada, a country where Best Buy had been expanding . RadioShack sued InterTan in April 2004 over the branding use of RadioShack in Canada . Circuit City lost the lawsuit and all Canadian locations were renamed The Source by Circuit City in 2005 . These stores were sold to Bell Canada and continue to operate . </P> <P> In 2007, a new 20,000 - square - foot (1,900 m) store format was introduced as "The City" and designed to eliminate previously under - utilized space . The smaller format gave the company greater flexibility to enter new markets and backfill existing ones . Most new store openings in 2008 used this new store format . </P> <P> On February 8, 2007, Circuit City announced that it planned to close seven domestic Superstores and a Kentucky distribution center to cut costs and improve its financial performance . News reports also mention that 62 stores in Canada were to close . </P> <P> Circuit City announced on February 23, 2007 that its Chief Financial Officer, Michael Foss, would leave the company . This unsettled investors and analysts concerned about management turnover . "This represents the third departure of a senior executive in the past six months, and the second departure of a top - five executive in the past month" said Goldman Sachs analyst Matthew Fassler in a client note . Chief Executive Officer Phil Schoonover's "hand - picked team is turning over faster than we would like to see in a turnaround situation ." </P>

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