But analysts say the moves announced Monday renewed the specter of bankruptcy hanging over the nation's No. 2 consumer-electronics retailer heading into a holiday shopping season that could determine its future.

''Clearly, [Circuit City] is frantically working to keep itself alive,'' JP Morgan analyst Christopher Horvers wrote in a note to investors.

Circuit City Stores Inc. is closing 155 of its more than 700 U.S. stores by Dec. 31, though none in Utah, where it has three outlets in Salt Lake City, one in Orem and one in Riverdale. The affected stores are spread throughout 28 states, including multiple locations in areas such as Phoenix and Atlanta. It is laying off 17 percent of its domestic work force, which could affect up to 7,300 people.

The company said the number probably will be lower because employees in some markets may go to other stores. There were no further details.

Circuit City also said it will further cut back on new store openings and plans to work with landlords to renegotiate leases, lower rent or terminate agreements while it deals with tightening credit from its vendors.

The company said it is working to secure support from vendors, but the ''current mix of terms and credit availability is becoming unmanageable.''

Shares in Circuit City, which have traded under $1 for more than a month, rose 10 cents, or about 38 percent, to 36 cents in Monday trading.

Circuit City has had only one profitable quarter in the past year and posted a wider second-quarter loss in September with a 13 percent decline in sales at stores open at least a year. It faces significant declines in traffic and heightened competition from rival Best Buy Co. and others.

''There are some markets where we have more competitors, there are some markets where we have less competitors, in all, we're closing 155 stores that were under-performing,'' said company spokesman Bill Cimino.