Circuit City, the recently struggling electronics retailor, has now announced new restructuring plans that will close 155 retail stores in the US, resulting in thousands of jobs lost, 17% of its total workforce. The company primarily cites lack of consumer confidence (which is at an all time low right now in the US measured by the VIX index which measures expectations of future volatility) CC was trading at about $0.50 per share this morning and dropped significantly by mid-day after the news to about $0.38 per share.