Even though the companies are in bankruptcy and mere shells of their former selves, shares of Circuit City Stores Inc., Chesapeake Corp. and LandAmerica Financial Group Inc. are still trading. Shares of these firms are no longer listed on the New York Stock Exchange. Instead, the stocks trade over the counter and for pennies per share.

Closet cleaning can yield some surprises. Just ask the company that cleared out Circuit City Stores Inc.‘s corporate offices. Hidden away in a closet in the Henrico County company’s headquarters, the staff of Liquid Asset Partners found a 1970 lithograph by artist/sculptor Alexander Calder—signed. And now Calder’s vibrant blue, black and red “Wave” can be yours.

The federal Pension Benefit Guaranty Corp. yesterday took control of the pension plan covering more than 21,000 former employees of defunct electronics retailer Circuit City Stores Inc. The quasi-government agency stepped in to manage Circuit City’s plan because it said the bankrupt Henrico County-based company does not have the wherewithal to pay benefits.

What’s in a name? For Circuit City, at least $6.5 million. In a bid to make some money on the Circuit City Stores Inc. brand, trademark and Web site presence, the Henrico County-based retailer wants to auction off its reputation to the highest bidder. The bankrupt consumer-electronics company named Port Washington, N.Y.-based Systemax Inc. as its stalking-horse bidder. A stalking-horse bid is an initial offer from a company chosen by the debtor, in this case, Circuit City.

The Circuit City name could live on after the retailer closes its last store at the end of March. The Hilco Organization, an Illinois-based retail consulting and liquidation firm which liquidated 154 Circuit City stores late last year, is trying to buy the Henrico County-based retailer’s brand, including its name and Web site.

Circuit City Stores Inc. will eliminate as many as 1,903 positions reporting to its corporate headquarters when the retailer closes its doors for good, according to papers the company filed with the state yesterday. About 1,500 to 1,600 of those jobs are in the Richmond area, company spokesman Bill Cimino said. Regional and district manager positions scattered throughout the country are included in the 1,903 tally.

A sale of all merchandise in Circuit City’s 567 U.S. stores begins today and runs through March. The chain will change some of its policies and the way it does business as it liquidates its assets: Discounts: Stores will have items for sale at clearance prices starting today. Prices will drop as the sale goes on. Gift cards: If you have a Circuit City gift card you still can use it at any store. Starting today, gift cards no longer will be for sale.

Circuit City Stores Inc.‘s liquidation announcement will affect thousands of employees and other businesses. Communities far beyond the Richmond area will feel the impact. Here are reactions from some of those affected: For Circuit City employees across the country, the liquidation means losing a job during an economic recession.

Watch a photo timeline of good times and bad at the Richmond-based electronics retailer.

Charles Cook, 45, never has filed for unemployment benefits before, but hard times started in November. Two weeks before Thanksgiving, he lost his job. Virginia’s unemployment rate rose to 4.6 in November, up 0.4 percentage points from October.

Michael L. Boykin has a business that once stored, shipped and maintained trade-show exhibits for LandAmerica Financial Group Inc. and its subsidiaries. Since the Henrico County-based company filed for bankruptcy Nov. 26 and sold off its title-insurance underwriters, Boykin has been unsure of what it means for his business, Display Management Services.