Best Buy should be up more than a quarter this morning. All its competitors are going into bankruptcy proceedings.

RICHMOND, Va. (AP) _ Circuit City Stores Inc., the nation's second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the busy holiday season approaches.

It said it decided to file for bankruptcy protection because it was facing pressure from vendors who threatened to withhold products during the holiday shopping period. The company also said it cut 700 more jobs at its headquarters, after announcing a week ago that it would close 20 percent of its stores and lay off thousands of workers.

Circuit City filed under Chapter 11 of the bankruptcy code, which will allow it to hold off creditors and continue operations while it develops a reorganization plan. Its Canadian operations also filed for similar protection.

And:

Consumer-electronics chain Tweeter Opco LLC filed for bankruptcy protection for the second time in 17 months and said it has begun liquidation sales at its 94 stores. Canton, Mass.-based Tweeter listed assets and debt of less than $100 million each in Chapter 11 documents filed this week in U.S. Bankruptcy Court in Wilmington, Del. Tweeter operates stores in 17 states, including seven in Maryland, under the Tweeter, Sound Advice, HiFi Buys and Showcase Home Entertainment names. Tweeter said it faced "a severe liquidity crisis brought on by slow sales caused by declines in discretionary consumer spending." -- Bloomberg News