Investor Dumps Circuit City Stake

The TCW Group, one of Circuit City’s largest investors, has sold nearly its entire stake in the struggling retailer, the Associated Press and other news organizations have reported.

TCW cut its holdings to 310,045 shares, a 0.2 percent stake in the company, according to a Securities and Exchange Commission filing Thursday, the Associated Press reported, adding that the figure is down from a 10.9 percent stake, or 18.3 million shares, that TCW reported owning in August.

Circuit City recently reported same-store sales fell 11.4 percent last month, while rival Best Buy reported comparable-store sales rose 1.5 percent in December, according to the Associated Press.