The tumbling giants: Curse or boon?

I knew Albertson's supermarkets closing was a bad sign. Add to that the various Linens' n Things and Bed, Bath and Beyond stores that have disappeared. Bennigans also pulled out of our area, taking with it their fantastic baked potato soup. GAP spin-off Old Navy is downsizing.
KB Toys is already closed - its stock sold off after filing for bankruptcy protection. And Sweetbay supermarkets just announced they are closing seven of their Tampa Bay area stores.
But now a long-time electronics retail giant, Circuit City, is going out of business. They have been the nation's second biggest consumer electronics dealer (Best Buy holds the crown), but that wasn't enough to save them in bankruptcy court. Friday, they failed to find a buyer and will simply liquidate their 567 stores in the U.S. This could mean another 30,000 people will be unemployed. Joining them will be laid off workers from Pfizer and Blue Cross.
Industry experts that circled their wagons when gas prices dropped are now warning of more lean times to come, as spending will likely decrease further. Bad, bad, bad.
But what does this mean to our local independent retailers? Surely they will see some business from some Circuit City customers. Bay News 9 interviewed one electronics place that could not believe they were still in business while the giants around them tumble. They're counting their lucky stars, and hoping to cash in on some displaced consumer dollars.
One independent retailer in a Tyrone shopping center that houses the defunct Circuit City is cringing at the thought of another giant chain closing, though. The store's owners believe that living in the shadow of the big guys has brought business into their doors that wouldn't normally be there. They count on the foot traffic from these places, and fear that no more store means no more people.
Whether good or bad, we can count on this: Everyone is going to be affected. From the butterfly effect to a tidal wave. Time to cautiously tighten the belt again.