To be fair, I'd bet that it was no longer Circuit City. When most of these stores do this, they sell out lock, stock, and barrel to salvage buyers. The salvage companies then come in, sometimes keeping former store employees for a short time and appear as the corporation. When they first come in, they often mark sale items back up to original cost and beyond (along with the regular merch). They then offer "deals" and slowly increase the markup until the last day when they dump and run.

You're right though, what a waste.